A British toy company which is licenced to make Thunderbirds and Moshi Monsters has said it’s urgently looking for a new buyer after seeing its profits tumble.
The toy maker, Vivid which is also backed by Phoenix Equity Partners, has asked KPMG’s accelerated mergers team to help find new investors. This comes after an earlier sale process which didn’t go through.
The search for a new owner for Vivid is thought to be in the early stages, discussions have only just recently been underway with potential buyers.
This news comes just weeks after a privacy issue came to light in Germany with a talking doll known as Cayla which is distributed by Vivid.
The smart technology that comes with the toy can reveal personal data to hackers, this has prompted an official watchdog into its use by children.
A person close to the auction said the company’s profitability had fallen due to a bet placed on the latest Thunderbird range, this soon turned sour.
However, a company source said the Thunderbirds had “a successful launch year in 2015 and continues to be an important brand in the Vivid portfolio”.