In what has beena frankly catastrophic year for the toy retail industry comes another blow as Toys R Us France enters receivership.
However, CEO Jean Charreteur is “very confident”, having set up a team to allow the chain “every chance to save itself”. Toyworld Mag take a closer look at the situation.
The French subsidiary of the US toy retail giant Toys R Us will be placed into receivership following the liquidation of its parent company.
Toys R Us France’s chief executive Jean Charreteur announced on Wednesday last week (18th July) that he had filed a request with the Commercial Court of Evry, in the Essone, to place the company into receivership. The move, he says, will allow the company “a measure of protection to allow the continuity of negotiations [with a possible buyer] in a secure and serene context.”
The hearing will be held on Wednesday, and a decision given by September.
According to speculation, one of the potential purchasers of the 53 French stores is Pierre Mestre, the majority shareholder of the Orchestra group, which owns the Prémaman brand. If successful, shoppers can expect to see clothing and nursery products ranged alongside toys in-store once they have changed hands.
