Was LEGO 800 million in debt?
Everyone knows LEGO. But the part nobody remembers is in 2003, LEGO was $800M in debt, losing $1M every single day. Kids still played, and the brand still sparkled. But inside, the business was quietly collapsing. Lego.Everyone knows LEGO. But the part nobody remembers is in 2003, LEGO was $800M in debt, losing $1M every single day. Kids still played, and the brand still sparkled. But inside, the business was quietly collapsing.
What almost bankrupted LEGO?
Can you imagine that a beloved brand like LEGO® nearly went bankrupt almost a decade ago? Up until 2004, the toymaker focused a lot of its attention on initiatives that stretched too far beyond its core brick products, thus losing sight on what mattered the most – whether customers were satisfied with the brand. Lego will not renew its marketing contract with Shell after coming under sustained pressure from Greenpeace to end a partnership that dates to the 1960s.