Basic Fun, Inc., a global toy company headquartered in Boca Raton, Florida, filed for Chapter 11 protection on June 28, 2024 in the District of Delaware (Case No. 24-11432) before Judge Craig T. Goldblatt. The company, which owns and licenses toy and entertainment brands including Care Bears, K'Nex, Tonka, Lite-Brite, and Lincoln Logs, with operations in 60+ countries and approximately 182 employees, cited a multi-year sequence of industry disruptions as filing drivers: the 2018 Toys 'R' Us bankruptcy (which generated $6 million in uncollectible receivables on $35 million annual sales), US-China trade tensions, supply chain disruptions, inventory overstock, and consumer slowdown. FY 2023 net sales were $144.1 million. The debtors obtained $65 million in DIP financing from Great Rock Capital. The plan of reorganization was confirmed on October 21, 2024 and became effective October 31, 2024, restructuring the capital stack with Falcon Structured Equity Partners, LP and founders retaining equity and access to $50M+ in exit facilities.