Character Options has revealed that its Christmas sales were down 35 per cent in its latest trading statement, affected by the closure of Woolworths.
The firm said that although it had reduced its exposure to the retailer from £5 million to around £1 million, it had still affected sales. The overall financial climate had also been a factor.
However, Character added that the future looked both 'bright and exciting' pointing towards the arrival of its HM Armed Forces product line-up this year, plus new products for Doctor Who based on the 2010 series, Scooby-Doo items, the refreshed range for Peppa Pig and new collections for Postman Pat, Hannah Montana and High School Musical.
"Indeed, as we look forward, Character is in a very fortunate position of having lower than customary stock levels, a programme to keep costs under control and, most importantly, a strong product offering, including many new products developed in-house," the company said in a statement.