Basic Fun, a Florida-based toy design and development company that since 2019 has owned the Tonka toy brand, has filed for Chapter 11 bankruptcy protection as part of a financial restructuring plan.
Per regulatory filings with the U.S. Bankruptcy Court for the District of Delaware, leaders of the Boca Raton-based company estimated Basic Fun’s debt to be between $50 million and $100 million, with fewer than 50 creditors. Its assets, the filing said, are less than $50,000.