Type
Merger/Acquisition
Country
France
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacturing Of Furniture And Other Manufacturing
Other Manufacturing
32.4 - Manufacture of games and toys

597 jobs
Number of planned job losses
Job loss
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'Humanit√©
  • 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.