The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Cultural And Recreation Goods In Specialised Stores 47.65 - Retail sale of games and toys in specialised stores
374 jobs Number of planned job losses
Announcement Date
11 August 2020
Employment effect (start)
24 August 2020
Foreseen end date
31 December 2020
Description
The commercial court of Mons (Belgium) has agreed the offer to take over the toy retail chain Maxi Toys by the family that owns the French group King Jouet. The shareholders of King Jouet are taking over two thirds of the assets, that is 95 out of 129 outlets in France and 20 out of 26 in Belgium. The operation guarantees the continuity of the brand as well as the activity of the Belgian Maxi Toys purchasing centre and the warehouse located near Brussels. The operation allows 826 jobs out of a total of 1,200 to be maintained. A total of 374 employees will be dismissed. With a total of 350 stores, the King Jouet - Maxi Toys ensemble will represent €400 million in sales, that is approximately 10% of the French toy market. This consolidation movement is the consequence of the closure of the non-food stores during the containment period.
Eurofound (2020), Maxi Toys, Merger/Acquisition in European Union, factsheet number 101519, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101519.
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