Build-a-Bear Australia emerges from the grips of voluntary administration. Crisis over. Hooray!
You can’t keep a good bear down guys. And Build-a-Bear is proof of this. Despite being on the verge of collapse, it is making a comeback. Let’s all find an excuse to build our very own Ted.
But it’s not just good news for die-hard Build-a-Bear lovers, the news is putting a smile on the faces of the 200 employees who were facing redundancy.
Crisis struck Build-a-Bear Australia in early 2019
Mum Central reported back in March the breaking news that Build-a-Bear Australia had called in the administrators. In spite of the support of its loyal and valued customers, the business told how it was facing growing operating costs, including rising wages and rent fees. Team this with a reduction in shopping centre foot traffic and the future looked bleak.
Unlike their bears, they weren’t completely stuffed
Fans of Build-a-Bear have remained hopeful the company would make a comeback. At the time of voluntary administration, Gavin Port, Build-a-Bear Chief Executive offered reassurance for the company’s future, explaining that closure of several stores would provide “a more sustainable long-term future for the Build-a-Bear Workshop brand here in Australia”.
In a statement released today, Gavin Port says an agreement has been reached with creditors, which will see Build-a-Bear Workshops continue to trade and save 200 jobs.
Get ready to stuff and dress your bears as stores reopen
After being forced to close the doors of 10 of their under-performing Build-a-Bear stores, the new agreement sees three stores reopen.
- Westfield Marion (SA)
- Westfield Miranda (NSW) and
- Westfield Carousel (WA)
Sadly, stores at Logan Hyperdome, Kawana, Mt Ommaney, Werribee, Eastland, Garden City (WA) and Green Hills will remain closed for the time being.
Hop to it, Build-a-Bear fun for everyone!
Without a doubt, Build-a-Bear is an exciting and fun activity the whole family can enjoy.
Kids can customise their very own furry friend and then kit it out with all manner of clothes and accessories. There’s no fluff filled discrimination to be had here either. Because it’s not just teds, you can stuff a bunny, a ragdoll kitten or a labradoodle. Heck, you can even create your kids’ favourite screen characters, including the Paw Patrol gang. Build-a-Bear really does have it all!
Stuck for a gift idea? Build-a-Bear makes an awesome gift. Make a special visit to a store with your gift recipient or organise a gift voucher for them to use when they’re ready to get creative. Too easy!