LGB in 2006 and now Marklin in 2009. Tough times in the train industry.
http://www.cnn.com/video/#/video/business/2009/02/12/pleitgen.ger.toy.train.trouble.cnn
Dan, is it for protection from creditors, or are they going belly-up for good? Whose products are the europeans preferring?
fifeedog,
I got the info from a video clip on CNN–so it was just a blurb w/ few details. I don’t think it had much to say about competitors; it played up the 150 yr history of the company.The piece implied it was the economy, not competitors that caused the filing. I gathered they were reorganizing and trying to stay afloat.
Check over in the GR forum. They’ve had some links to feature stories about this for a few weeks. I might be wrong, but I believe it is a financial issue rather than a sales issue (meaning corporate debt, etc., not a shift in customer loyalty). Here is a link to an English page for Der Spiegel.
http://www.spiegel.de/international/business/0,1518,605513,00.html