GERMANY - Private equity-backed Märklin files for insolvency

Göppingen-based Märklin, a company that produces and markets model trains, failed to secure the extension of its EUR 50m debt with lenders Landesbank Baden-Württemberg (LBBW) and local savings bank Kreissparkasse Göppingen.

Märklin reported sales in 2008 of around EUR 126m and was acquired by Kingsbridge and Goldman Sachs in 2006.

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