Restructuring events
European Restructuring Monitor (ERM)
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.
Poly Juguetes, a Spanish chain of toy stores plans to file for bankruptcy proceedings, which implies the lay-off of its entire workforce (186 employees) and the closure of its 26 physical shops located throughout Spain, in addition to its digital sales channel and company offices.
The company was acquired by the Dutch Teal group in 2018, but has since incurred in significant losses year after year, accumulating more than 15 million euros of losses with no optimistic forecasts for this year 2024. According to the company, Poly's viability in recent years has been based exclusively on the financial support of the Teal Group, but these contributions have not allowed the company to become profitable or to meet its obligations.
Eurofound (2024), Poly Juguetes, Bankruptcy in Spain, factsheet number 200955, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200955.