There are many reasons that could have caused this decline but I’ll say the two main points. It looked like nothing could stop them until 20 which are some of the worst years (in terms of profits) in the company’s history. In the following half century, the business kept on growing year after year until LEGO became a household name. About eight years later they changed the bricks to have the tubes in the bottom and that’s when things really took off. Because of this, they didn’t sell too well and no one really bought them. These weren’t exactly the same as the bricks we have today as they didn’t have the tubes in the bottom that keeps them together tightly, instead they were hollow easily came apart. During this time, they started selling small plastic bricks. Luckily, he didn’t give up and he built a new factory bigger and better then the first one. But then during World War 2 everything changed because his factory burned down. The LEGO company didn’t actually start out by making plastic bricks, the first toys they made were wooden ones like the famous wooden duck! At first it was a very small business run by Ole Kirk Christiansen and it didn’t do very well.
To figure out how the LEGO Company almost went bankrupt, we need to go back to the beginning of the company. Nowadays LEGO is one of the biggest toy companies in the world being worth a whopping $8.6B but most of this success has been recent. Now if you’re wondering how everyone’s favourite toy manufacturer got in that position, don’t worry because I’m about to explain it to you. However, the LEGO Group’s biggest failure was the time they almost went bankrupt. The company LEGO has been around since 1932 so naturally it’s had its fair share of ups and downs through the years.
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