Mattel Stung by Unpaid Bills: Hawthorne-based toy...
From Times Staff and Wire Reports
Mattel Stung by Unpaid Bills: Hawthorne-based toy maker Mattel Inc. said it will take an undetermined fourth-quarter charge against earnings for money owed by the troubled Child World chain and other retailers. Mattel said it will not know the size of the charge until it sees a repayment plan by Child World. Mattel, which will release fourth-quarter results in mid-February, has previously projected 1990 earnings of $100 million. Child World, of Avon, Mass., owes more than $120 million to banks and $210 million to suppliers. Other toy suppliers, such as Tyco Toys Inc. and Tonka Corp., also are expected to take charges because of retailers’ problems.
