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Funko to close local warehouses, consolidate in Arizona; HQ stays

EVERETT — Everett-based Funko formalized that it will be closing its Everett and Puyallup warehouses to consolidate in Arizona, which will create a layoff affecting 258 workers.
Word got out a few months ago when workers were told the news that the warehouses are closing.
Layoffs begin June 9, according to a notice posted by the state Economic Security Department.
In Everett, Funko is currently leasing 424,000 square feet for warehousing and distribution scattered across four sites, plus 142,000 square feet in Puyallup, company filings say.
The makers of vinyl pop culture figures is consolidating its distribution centers to a 958,000-square-foot facility it’s leasing in Buckeye, Arizona just west of Phoenix, a news release announced.
Funko will remain headquartered in Everett.
Its products are produced by third-party manufacturers primarily in Vietnam and China, the company reports.
“We’re excited to bring Funko to Arizona with the opening this month of our nearly one million square foot facility in Buckeye,” Funko’s CEO Andrew Perlmutter said in the news release. “The demand for Funko products globally is as high as it’s ever been and the company recently surpassed a billion dollars in revenue for 2021. The consolidation of several warehouses to one single facility will better improve our customer experience and maximize the growth opportunities as our business scales.”
A small group of investors acquired Funko in 2005 from its founder, Mike Becker of Snohomish, when it was a much smaller company.
The Arizona announcement coincided with the notice to government authorities of the planned layoff. The notice was a federal WARN notice, short for Worker Adjustment and Retraining Notification.

 

  

 


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