Haba, the German board game studio, has filed for insolvency with its local district court.
The publisher is best known for releasing many great board games for kids such as Rhino Hero, Animal Upon Animal, and Valley of the Vikings, which was awarded the Kinderspiel des Jahres in 2019.
In a statement, HABA said, ‘The self-administration means the chance for a completely new start after the economic turbulences of the past weeks and months.’
It was announced in July that HABA was restructuring ‘to meet the challenges of the coming years.’
“The economic challenges have strongly affected us as a family-owned company in almost every aspect,” said Dr. Mario Wilhelm, Managing Director of the HABA FAMILYGROUP.
“We are currently realigning our course to respond as effectively as possible to these major challenges. Moreover, some decisions made in the past years have proven to be wrong in retrospect. We must admit that. We are now in the process of correcting them with the aim of making our company sustainable for the years ahead.”
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