In a shocking announcement, Janne Kataja has filed for bankruptcy with his production company, Hihhihi. The company, known for producing TV shows, films, and events, as well as running the Pieni Lelukauppa chain, has had to make this difficult decision due to unprofitable business operations. Despite the bankruptcy application, Kataja mentioned that the toy stores will continue to operate at least for the time being. He attributed the financial difficulties to a decline in buyers at the toy stores, reflecting the economic state of the country.
Kataja co-founded Hihhihi in 2002 with actor Aku Hirviniemi, who later resigned from the company’s board. In 2022, the company reported a loss of around 416,000 euros with a turnover of approximately five million euros. According to Kataja, TV and film productions were profitable but it was the retail sector that faced challenges leading to payment difficulties. The chairman of the company’s board was unavailable for comment when reached by HS.
The news of Hihhihi’s bankruptcy application was first reported by Yle and highlights the struggles faced by businesses in a changing economic landscape. While TV and film productions were profitable, it seems that businesses are facing new challenges in today’s economy that require more strategic planning and adaptability than ever before. As such, it is important for companies to continually evaluate their operations and adjust their strategies accordingly if they wish to succeed in this fast-changing business environment.
