Everett-based Funko: 'Serious doubt' it can continue without new owner or funding

EVERETT — Everett-based Funko, Inc. warned in its last financial filing that, without new funding or a new owner, there is “substantial doubt” about its ability to continue operations for another 12 months.

In its latest financial filing with the Securities and Exchange Commission on Nov. 6, Funko stated that it continues to operate at a loss and does not have sufficient cash reserves to fully repay its $241 million in loans, which mature in September 2026.

The pop culture collectables company cites economic uncertainty due to rapid changes in the global economy from tariffs as the cause of its problems. It said the resulting consequences are falling consumer demand for its products, supply chain problems and increased distribution costs. Funko manufactures almost all of its products overseas.

Funko’s main headquarters remains in downtown Everett, as well as a retail store that is stocked with hundreds of different vinyl figurines based on characters from movies, television and comic books. Funko also operates a retail store in Los Angeles.

https://www.heraldnet.com/news/everett-based-funko-serious-doubt-it-can-continue-without-new-owner-or-funding/

As others have pointed out, these are the new beanie babies. Cute toys are not a necessity in life.