RETAIL: Toy Retailer One2Play in Bankruptcy; Economic Crisis Fast-tracks Retail Sector Concentration

24 February 2014, LPJ Croatia Issue 73

On 14 February, the Croatian toy store retail chain One2Play announced it had failed to reach an agreement with its creditors on the reprogramming of a €16.6 million debt and would therefore start liquidating its stores and assets across Croatia.  Once a high profile, promising and leading toy retailer, One2Play recorded a sharp decline in its financial fortunes over the past few years.

Founded in 2000 as a wholesaler, the company later transformed into a retailer, re-branding itself in 2007 under the ‘One2Play’ name.  In 2011, One2Play posted record revenues of €18.05 million. By the end of 2011, the company’s economic downturn commenced, despite the promising toy market, valued at approximately €52.4 million,  remaining stable amid the economic recession in Croatia.

In the summer of 2013, the company began talks with its principal creditors…

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