May 15, 2006, 17:36 GMT
Altenkunstadt, Germany - The toy company that makes Goleo, the mascot for the World Cup next month in Germany, said Monday it faces ruin because so few Germans have bought the stuffed dolls.
A picture showing two FIFA World Cup 2006 mascots 'Goleo' by Nici AG at a shop in Nuremberg, Germany, Monday, 15 May 2006. The company is in massive payment troubles, it has been reported and the management is considering to file for insolvency. EPA/Daniel Karmann
With three weeks to go until the football tournament starts, Nici, a company with a workforce of 400, said it was still considering whether to seek protection from creditors and sack its chief executive as its losses mount.
FIFA charges a fee for every Goleo, a shaggy lion wearing a football jersey, that Nici makes.
Nici's soft-toy versions range from a tiny Goleo, suitable for keyrings, to one that is 2 metres tall, for the very large playroom. The factory in the town of Altenkunstadt also makes Goleo novelties and markets the rights for Goleo cartoons on TV.
Nici, which has annual sales of about 130 million euros, did not disclose exactly how many Goleos it had sold, but marketing chief Uwe Klimach said, 'We're in a serious financial situation.' He said the board was mulling whether to sack founder and chief Ottmar Pfaff.
Klimach said protection from creditors did not mean closure, but an opportunity to nurse Nici back to health.
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