The company producing the mascot for this year's World Cup has declared itself bankrupt after the toy failed to score with consumers.

Bavaria based Nici paid 28 million euros (?19m) for the sole rights to "Goleo", a football-kit-wearing lion.

According to reports, the firm has blamed weak demand for its problems. The Bavarian toymaker confirmed it had applied to the German courts for insolvency protection, but declined to give any further information.