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End of game or simple procedure to find a buyer? The French subsidiary of US toy distribution giant Toys'R'Us, which has 53 stores in France, will request its placement in receivership.
The announcement was made, according to Le Monde, to the representatives of the staff, Wednesday, during a meeting. The hearing is expected to be held next week at the commercial court of Evry (Essonne).
Compete on the Internet, Toys'R'Us announced on March 15 the liquidation of its US operations. Since all of the group's international activities have experienced different spells: the American, British and Australian branches have gone out of business. In Germany, Austria and Switzerland only 93 points of sale were bought …
"A more secure context"
In France, discussions to find a buyer and to be able to keep the name of the brand were started as soon as the month of March. The objective being to be able to preserve the 53 stores and the 1300 employees.
This procedure, according to Jean Charreteur, the general director will allow to continue the activity in a more secure context and to finalize the discussions in progress with the potential investors and US lenders. The idea is to protect society. "
Indeed during this time, the company is protected and its debts are for example frozen. Christelle Jordan, CFDT central union delegate, said it was "a good thing" and that it could "be beneficial for the employees."
A potential buyer
One of the potential buyers often cited is Pierre Mestre , the majority shareholder of the Orchestra group with other investors. With its brand Prémaman, it distributes articles for children and childcare through nearly 300 stores in France. A merger would make it possible to find important synergies.
The problem is that the Orchestra group whose turnover exceeded 600 million euros in 2017 suffered at the same time a loss of 20 million euros. It took a last-minute deal with investors for a new staggering of the debt to avoid the cessation of payments.
The other possible brake could come from toy manufacturers. While toy stores are in the process of placing orders for the holiday season, some brands may refuse to make deliveries for fear of not being paid if they fail to find a buyer. [19659012]! function (f, b, e, v, n, t, s) {
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