Toy market news

Jobs cut at toy maker Sambro International

Jobs have been cut by a Greater Manchester-based international toy maker and distributor as it carried out "significant changes" in the wake of the Covid-19 pandemic.

The number of people employed by Sambro International, a global supplier of licensed toys, stationery and arts and craft products, during its most recent financial year dropped from 142 to 106. That number has since fallen further.

In newly-filed documents with Companies House, the Bury-headquartered firm said it has gone through "some significant structural changes and cost reduction programmes" since the start of the pandemic which had an impact on its finances.

The accounts, for the 12 months to December 31, 2020, show the business achieved a turnover of £36.7m in the year, down from £54.1m.

Its pre-tax losses however were cut from £3.9m to £1.5m over the same period.

A statement signed off by the board said: "The business was affected by the Covid-19 pandemic in early 2020, suffering initial supply-side challenges, followed by global demand-side challenges through the remainder of the year.