Last week, the Funko Pop company hit investors with a dramatic disclosure. “There is substantial doubt about the Company’s ability to continue as a going concern for the next twelve months,” it revealed in its latest quarterly earnings report. This is the company warning that it’s at increasing risk of defaulting on its loans. How much is that? Roughly $241 million. I don’t think the banks will accept payment in the form of One Piece Funko Pops.
The company revealed that it amended its credit agreement with JPMorgan Chase Bank back in July in an effort to waive certain requirements and buy time in order to refinance its debt under more manageable terms. That sounds reasonable and the company is…