Palisades Toys Closing!

Wednesday, February 1st, 2006 5:00PM CST

Categories: Company News, Collectibles
Posted by: Hotrod Views: 25,348

03Mach1 of TFW2005 has received an email form Mike of Palisades Toys. The email announces the closing of the company. Here is what the email said:

"I regret to inform you that after more than 11 successful years, Palisades Entertainment, LLC has discontinued its business of manufacturing and selling licensed and proprietary action figures, collectibles, toys and other goods. This development parallels a general trend within the toy industry, including the bankruptcy of one of Palisadesâ€™ largest customers.

Palisades has sold a substantial portion of its assets to another industry player, an affiliate of C.A.S. Iberia, Inc. named Limited by CAS, Inc. That company will continue the sale of certain of the brands that Palisades developed, including the Factory X line.

The sale transaction did not include employment for me or my wife Kate, who many of you know. Consequently, neither Kate nor I will be reachable at the buyerâ€™s offices, nor will we have any ongoing relationship with the buyer.

I donâ€™t have any plans for the immediate future beyond enjoying life with Kate and our children, until I figure out our next chapter.

Iâ€™d like to take this time to thank all of my friends and colleagues, and in particular, the team that helped me build and nurture Palisades for so many years."

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Credit(s): 03Mach1 of TFW2005