Type
Merger/Acquisition
Country
Netherlands
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail sale of cultural and recreational goods
47.64 - Retail sale of games and toys

1,700 - 2,200 jobs
Number of planned job losses
Job loss
Announcement Date
8 March 2019
Employment effect (start)
8 March 2019
Foreseen end date

Description

Intertoys, a nation-wide toy store chain, has announced the closure of at least 90 stores, resulting in the dismissal of up to 2,200 employees. The toy store chain was declared bankrupt in February 2019 due to decreased number of sales and was then acquired by the Portuguese investment fund Green Swan. After negotiations with franchisees and the sites’ landlords, the company decided to keep 230 branches open. With the acquisition of Intertoys and other toy store chains in Belgium, Spain and Portugal, Green Swan aims to become the largest toy chain in Europe.


Sources

Citation

Eurofound (2019), Intertoys, Merger/Acquisition in Netherlands, factsheet number 97366, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97366.