Solas Capital Engages in Discussions with Build-A-Bear
January 29, 2021 at 05:29 pm
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On January 29, 2021, Solas Capital Management, LLC announced that it has periodically engaged in, and may continue to engage in, discussions with management and the board of directors of Build-A-Bear Workshop, Inc. as well as other stockholders and third parties concerning the business, operations, assets, governance and strategy of the Company. Solas Capital stated that it continues to believe shares are undervalued and represent an attractive investment opportunity, it has pleased to remain shareholder of the Company.
Build-A-Bear Workshop, Inc. is an experiential specialty retailer where children and their families can create their own stuffed animals by participating in the stuffing, fluffing, dressing, accessorizing, and naming of their own teddy bears and other plush toys. Its segments include direct-to-consumer (DTC), commercial, and international franchising. Its DTC segment includes the operating activities of corporately-managed stores, other retail-delivered operations and online sales. Its commercial segment includes transactions with other businesses and is comprised of wholesale sales of merchandise, supplies and fixtures, licensing the Companyâs intellectual properties for third-party use, and entertainment activities. Its international franchising segment includes the activities of franchisees who operate store locations in certain countries and includes development fees, sales-based royalties, merchandise, supplies and fixture sales. It has over 359 corporate-managed stores globally.
BUILD-A-BEAR WORKSHOP, INC. 
