In France, the toy giant Toys'R'Us is placed in receivership

Hope for the French toy giant. The US subsidiary of the US giant toy distribution Toys'R'Us was placed on Wednesday in receivership by the Commercial Court of Evry for a six-month observation period, a source told AFP union. A new hearing to make a point of situation is scheduled on September 21, said Christelle Jordan, CFDT delegate.

With this procedure, the objective of Toys'R'Us France is to "allow the continuity of negotiations (with a possible buyer) in a secure and serene context ", said last Friday a source close to the file.

300 million euros of turnover

Number one of the sale of toys in France, Toys' R'Us had announced mid-March he was looking for a buyer, following the announcement of the
liquidation of 735 stores of the sign in the United States. In 2016, the French subsidiary (53 stores, 1,300 employees) achieved a turnover of more than 300 million euros.

Representatives of the works council "insisted", during the hearing before the commercial court, "on the general concern of employees about their future," said Christelle Jordan, representative of the majority union.

A proposal for recovery

According to The World one of the possible purchasers of the French stores of the sign would be Pierre Mestre, the majority shareholder of the Orchestra group, owner of the Prémaman brand. The project would consist in offering in the same stores the offers of the two signs, clothing and childcare on the one hand and toys on the other hand, according to a source close to the file.

The commercial court of Paris postponed Tuesday to the 10 September the review of the continuation plan presented by the CEO of the group

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