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German Toy Train Maker Maerklin Files for Bankruptcy | Germany | DW.COM | 04.02.2009

Germany's toy train maker Maerklin has been forced into receivership. Still, the company vows to keep chugging ahead. The wheels are threatening to come off at Maerklin Maerklin has become the latest victim of banks' hesitancy about lending money amidst the global economic crisis. The news of the bankruptcy was particularly ironic, coming as it did on Wednesday, Feb. 4 -- one day before a major toy manufacturers' trade fair opens in Nuremberg. The company said it was left with no other option after failing to obtain a 50 million euro credit line ($64.7 million). Nonetheless, the firm, which has been in existence for 150 years, hopes it can get back on track. "We are determined, in consultation with the insolvency administrators, to use German bankruptcy law to restructure our traditional business, which has cult status among fans, and establish it in the long term on the market," Maerklin CEO Dietmar Mundil said in a statement.

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German Toy Train Maker Off The Tracks : NPR

Small, family-owned manufacturing companies like Marklin once formed the backbone of the German economy. Now 400 workers at Marklin have lost their jobs and a plant in Nuremberg was just shuttered, tossing dozens more people out of work. Trying To Save The Company The company, which pioneered electric model trains, is now in Germany's version of Chapter 11 bankruptcy protection and looking for new investors to save it from closing forever. "The workers are deeply scared, mistrustful and cautious. They're afraid a new investor will come along who only wants to buy the brand name, but won't be interested in their skills and their labor," says Brend Rattay, a trade union official who represents Marklin's 600 remaining factory workers in Germany. A British private equity firm, Kingsbridge Capital, bought Marklin in 2006, marking the end of a century and a half of family ownership. Some townspeople blame the venture capitalists for souring Marklin success. But observers say that prior to the sale, the descendants of the founder bickered constantly and had started to run the company well off the rails. But Knightsbridge Capital also failed to turn the company around. The global economic downturn administered the final, perhaps fatal, blow. Executives Making $1,000 An Hour? Court-appointed bankruptcy lawyer Michael Pluta says when he arrived he found the company with three CEOs paying themselves 700 euros about $1,000 an hour.

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It was not until after the death of his stepfather that one of the sons, Eugene Märklin 1861-1947 picked up the threads - albeit only as a sideline, since he had a well-paid job elsewhere, as had his brothers. In case we inquire into greater depth on the O scale trains subject matter, visit this particular O scale trains learning resource: recommended web site.The company was founded in 1859 and is based at Göppingen in Baden-Württemberg. Electrical Equipment for Building a Layout. The 1950s saw refinements to Märklin’s third rail it was placed below the roadbed with contacts that stuck up through the ties. Märklin & die. Tools for doing these tasks are all located in the tool bar on the left side of the flip page catalog. The Märklin toy company systematically included a print ladder number on almost all their printed material, including the boxes in which their products shipped. Today Prix is another brand of Märklin Holding and covers N-scale and DC-operated H0 scale. Models from this period include the RV 12890 steeple cab locomotive the clockwork version was numbered 890, the HR 66 12920 locomotive, the 1750 Rheingold baggage car, and the 1780 sleeper car with real bunks. In addition to this general information, please follow the instructions included with individual marlin products to maintain their operating reliability From Wikipedia, the free encyclopaedia marlin or Maerklin is a German toy company, founded in 1859. Operation in damp or wet areas or outdoors is not permitted.

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