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.
The Commercial Court of Paris has approved the plan for the takeover of the La Grande Récré toy stores chain by its current CEO. The court prefered its continuation plan to the Fnac Darty group's takeover offer. The project of Ludendo, the parent company of La Grande Récré, keeps 104 stores and 900 jobs of a total workforce of 1,220. The 88 stores in franchise were not affected.
The continuation plan provides for the group to separate from unprofitable subsidiaries and stores, particularly abroad (Spain, Switzerland, Belgium) to keep only stores in France, where Ludendo has 734 employees following a restructuring conducted this summer. This restructuring resulted in 260 job cuts. A previous restructuring involving 100 job cuts in France took place in in 2016.
Eurofound (2018), La Grande Récré, Closure in European Union, factsheet number 95632, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95632.