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.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Other Manufacturing 32.4 - Manufacture of games and toys
597 jobs Number of planned job losses
Announcement Date
1 March 2008
Employment effect (start)
1 March 2008
Foreseen end date
31 December 2008
Description
The French toy company, Smoby, was bought out, in spring 2007 by the American toys produter MGA Entertainement. However, due to ongoing insolvency, Smoby was, again, place under a recovery proceeding in October. The bankruptcy court of Lons-Le-Saunier (Jura) chose the German group Simba (leader in Germany) to buy out Smoby. Simba has now announced that 597 employees in France will be laid off.
Sources
3 March 2008: Agence France Presse
3 March 2008: DowJones Newswires
6 March 2008: L'Humanité
3 March 2008: Les Echos
Citation
Eurofound (2008), Smoby, Merger/Acquisition in France, factsheet number 66370, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66370.
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