Zizzle auctions its assets
By Staff -- Playthings, 7/2/2009 1:17:00 PM
BANNOCKBURN, Ill.—Toymaker Zizzle LLC will auction its assets on July 15, according to Crain’s Chicago Business.
An investment group called Zizzle Hong Kong Ltd. that is said to include Zizzle co-founder Roger Shiffman has placed a $2 million bid for the company, according to the report. The story says the company was done in by debt and loss of revenue as a result of cancelled orders last holiday season.
Zizzle launched in 2005 with iZ (pictured), an electronic novelty toy with iPod speaker capability that was one of the highlights of that year’s holiday toy season.
[CORRECTION: An earlier version of this report incorrectly stated iZ was licensed from Sega. It was created by Big Monster Toys, and licensed to Sega for distribution in certain Asian markets. ]
The company went on to score with toys based on the Pirates of the Caribbean film franchise, including a Toy of the Year Award in the “Boy Toy of the Year” category for its Dead Man’s Chest Ultimate Black Pearl Playset in 2006. Subsequent years brought forth playthings based on major licenses like Hannah Montana as well as efforts tied to long shots like Raggs.
In addition to Shiffman, Zizzle’s management includes fellow Tiger Electronics alumni Marc Rosenberg and Patty Jackson.
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