Bleacher Creatures, the Plymouth Meeting toy company formed six years ago, has been forced to file for bankruptcy after being prohibited by some of its license partners from selling its toys on Amazon.com, writes Katy Stech for The Wall Street Journal.

Documents filed with U.S. Bankruptcy Court in Philadelphia state that the company was already struggling before the restrictions on selling through Amazon.com.

This was due to the unfavorable terms of some of its licensing deals with companies such Disney, the NBA, and DC Comics.

These required the company to make guaranteed minimum payments no matter how well their related products sold.

Things came to head when Bleacher Creatures did not have enough funds for the upfront payments in March to renew its licenses with Marvel Comics and the NFL. As a result, the company was forced to lay off a significant portion of its staff, leaving just six employees at its headquarters.

However, to try and save the company, board member and President, Matthew Hoffman, has put forward a purchase offer. If approved, Hoffman would continue to run the company.

Meanwhile Bleacher Creatures officials have also contacted other potential buyers and are considering holding an auction for the company.

Read more about the company’s issues at The Wall Street Journal by clicking here.