Toys'R'Us toy giant placed in receivership

The French subsidiary of the giant toy distribution US Toys'R'Us was placed Wednesday in receivership by the Commercial Court Evry (Essonne) for a six-month observation period according to a union source

735 stores already closed in the United States

A new hearing to make a point on the situation is scheduled for September 21, said Christelle Jordan, CFDT delegate.

With this procedure, the objective of Toys'R'Us France is " allow the continuity of negotiations (with a possible buyer) in a secure and serene context," said last Friday a source close to the record.
Number 1 of the sale of toys in France, Toys'R'Us announced mid-March that he was looking for a buyer, following the announcement of the liquidation of 735 stores of the sign in the United States.

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French employees worried

In 2016, the French subsidiary ( 53 stores, including four in the Southwest 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 anxiety of employees in relation to their future," stressed Mrs. Jordan, representative of the majority union
They also put in the foreground of their concerns "the payment of wages at the usual deadlines", she added.
The Director General of Toys'R'Us France, Jean Charretteur, announced last week to representatives of the staff that he had filed a request to place the company in receivership.
He had said Friday "very confident", explaining have set up a "shock team to give every chance to save society."

A possible buyer already known

"The most important is the sustainability of jobs," she had insisted
According to Le Monde,
The project would consist of 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 record.

La Grande Récré already in receivership

The French toy sector is in turmoil: the group Ludendo, owner of the sign La Grande Récre, is in receivership since March because of commercial and financial difficulties.