New York-based Sababa Group, the toyco behind sports-themed Rubik’s Cube, Snoopy Snow Cone Maker, Magic 8-ball, Word World games and Ology games, has filed for Chapter 11 bankruptcy.
The company has stated a ‘liquidity crisis’ brought on the bankruptcy and it will be taking bids at a public auction in New York on September 12 to dispose of its remaining assets. Sababa also owned Front Porch Classis, produced classic Fisher-Price toys under license and made versions of Scrabble and Uno games sporting Boston Red Sox and New York Yankees branding.
In the meantime, Sababa has tentatively agreed to sell a portion of its business to University Games, creator of the Where in the World is Carmen Sandiego? board game and other educational board games, including Kids on Stage, Totally Gross, Brain Quest and the Eric Carle Learning System.