Positive Future for LazyTown!
I am pleased to announce to all of you that LazyTown’s financial restructuring has been finalised by an agreement with its bondholders and main creditors. There has been some press recently that was slightly negative concerning the financial position of LazyTown but this has now been resolved.
There are no refinancing risks for the foreseeable future and this all leaves the company in a great position for future growth. This is brilliant for FitKid and the LazyTown Sports Club project and means we can now push on with renewed confidence as a team as we look to make this a growing success in years to come.
LazyTown is the only children’s entertainment brand solely dedicated to helping families to enjoy a healthier lifestyle. This is its unique selling point, and with the general public increasingly aware of the importance of health and wellbeing, LazyTown has been able to attract more strategic partners and licensees.
Magnus Scheving, the CEO of LazyTown, remains a major shareholder in the company. He says, “I’m extremely thankful and grateful to the stakeholders who worked together to conclude this process. We are excited to continue leveraging the incredible opportunities being presented to the brand, while at the same time contributing towards a healthier new generation of young people.”
Finally, a piece about LazyTown for those who do not know about it….
LazyTown is the fictional home of superhero Sportacus, and a range of other inspirational characters. It appeals equally to boys and girls, and is geared towards the 2-6 year old age group. The only children’s programme filmed in HD, the 79 episodes feature a mix of live action, animation and puppetry and is shown in millions of homes and over 100 countries.