Lionel LLC pulls out of bankruptcy
An iconic American toy company has emerged from bankruptcy protection, ending more than three years of restructuring.
Chief executive Gerald Calabrese, a former Marvel Comics executive who shepherded 108-year-old Lionel LLC through bankruptcy, said breaking away from the hobby market and into the broader toy market is key to Lionel’s growth. Sales for Lionel kid-friendly starter systems have more than doubled since the company declared bankruptcy. Lionel sold some 200,000 sets last year with much of that growth coming from sales at department stores and big-box retailers.
“We had virtually no sales at outlets like Target and Macy’s and FAO Schwarz when the bankruptcy started,” Calabrese said.
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