Fun Express & parent co Oriental Trading file bankruptcy

September 18th, 2010 by Classy Kid Leave a reply »

It saddens us to see companies in difficult situations. However it’s important that professionals in our industry are aware of what’s happening in their supply chain. The facts are that Oriental Trading Company, the parent of Fun Express (a supplier to the foodservice industry) on August 25 filed for bankruptcy of the debt relief type, aka chapter 11. The Fun Express filing shows assets of $10 to $50 Million and total liabilities in the $500 Million to $1 Billion category. The company plans to continue to operate.

“With such a large debt balance, OTC had little flexibility,” said Stuart Rose, managing director for investment firm Tully & Holland. “The hiccup of no growth – or even declining sales and profitability caused by the economic downturn and other factors – tripped up a company that was handcuffed by its large debt balance.”

Another important fact is that Family Hospitality Group is a growing, profitable company with zero debt to creditors. If you are looking to transition your kids program to another provider, we can help you do so quickly with the latest in kid-friendly supplies and know-how. Contact one of us today at (702) 822-4422 for a free quote and consultation, or through our website at http://www.familyhospitality.com/contact.html.

We wish the managers and owners of Fun Express all the best in resolving their situation and in being an option in the marketplace for many years to come.

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