Question: Could Bricks and Minifigs be Cash Poor?
Hello,
I'm not a LEGO enthusiast or a business expert by any means, but I've been following the 200K theft since it blew up on YouTube and made the rounds online (organically of course, despite what the CEO thinks lol) and it got me thinking.
I was actually explaining the situation to my husband and started wondering, could Bricks & Minifigs be cash poor right now? It might be a dumb theory, but hear me out.
Given the state of the US economy, my guess is that more people are selling their LEGOs than buying them at the moment. If that's the case, their inventory could be piling up faster than revenue is coming in. I know corporate has more control over franchisee licensing than day to day operations, so this might not be a company wide issue, but it's something I kept thinking about. I'll admit I don't fully understand how that side of it works.
The part that really doesn't add up to me is that this is apparently a company claiming to be worth around $6 million. I've seen numbers range from $6 million to upwards of $93 million to $450 million. I just don't believe those high of numbers given the circumstances. If any of those are anywhere near accurate, why would you risk everything over $200k worth of LEGO sets? Not justifying the theft, obviously, because that's what it was. It's pretty blatant at this point. I also haven't watched the unredacted police footage, so if I missed something that was said in the videos, please let me know. The only thing I can think of is that paper value and actual liquid cash can be very different things. A business can look valuable on paper while struggling to cover real expenses.
I'm probably missing something obvious, but something about this just doesn't sit right with me. It makes me wonder if there's something underneath it all that the CEO of Bricks and Minifigs doesn't want exposed. Would love to hear from anyone who knows more about this than I do.