Hihhihi: Troubles in Toy Stores Sector Lead to Voluntary Bankruptcy Filing of Production Company

In 2022, Hihhihi, a production company known for producing TV shows, films, and events, as well as running the Pieni Lelukauppa chain, filed for voluntary bankruptcy. The company co-founder and CEO, Janne Kataja, announced the news to the public. Despite this setback, Kataja stated that the toy stores will continue to operate for now. He attributed the financial difficulties to a decline in buyers at the toy stores due to the economic state of the country.

Hihhihi was founded in 2002 by Kataja and actor Aku Hirviniemi. However, Hirviniemi later resigned from the company’s board. In 2022, Hihhihi reported a loss of around 416,000 euros with a turnover of approximately five million euros. According to Kataja, unprofitable business operations in the toy stores sector were the main reason behind bankruptcy filing.

Despite their current situation, Hihhihi has produced notable productions such as children’s movies like “Hay Hat” and “Felt Slipper,” as well as television series like “Lehtikäsiari Urpo” and “Tourism Emperor Kalevi.” The chairman of Hihhihi’s board was unavailable for comment when reached by HS.

The news of Hihhihi’s bankruptcy application was first reported by Yle News. According to Pekka Kataja, while TV and film productions were profitable, challenges were faced in retail businesses such as toy stores due to payment difficulties caused by declining sales. This highlights how businesses struggle in an ever-changing economic landscape.

In conclusion, despite facing financial difficulties and filing for bankruptcy with his production company Hihhihi earlier this year