Angel Toy

Before leaving for Spain, Joe was working for his family' business, Angel Toy Corporation. Angel Toy had acquired two cartoon licenses which Joe was in charge of. Everything had gone smoothly, but inventory had not arrived yet and he wanted to make sure that things were running smoothly. A weekly industry email was sent out every Wednesday to update on what was happening in the toy biz. He had just read an AP about a particular toy company. Applause LLC had declared bankruptcy. A spokesperson for the company had announced that they were determined to continue and shared a brief plan of restructuring which included the sale of their "Applause" Identity. The "Applause" brand was to be auctioned off and the deadline for the bidding was October 14th. The starting price for bidding was 4.5 million. This was a unique opportunity for Angel Toy Corporation.