Restart for part of Intertoys; half of jobs saved

Intertoys on Damrak in Amsterdam Centrum
Intertoys on Damrak in Amsterdam Centrum. (Photo: NL Times)

Part of bankrupt toy store chain Intertoys is going to make a new start, the company announced on Friday. Portuguese investor Green Swan is acquiring half of the 286 stores. The others will have to close, NU.nl reports.

Depending on the number of stores that can remain open, between 1 thousand and 1,500 jogs will be retained, a spokesperson for the company said to the newspaper. Intertoys currently has 3,200 employees. At least half of them will be able to keep their jobs, according to the newspaper. At least 91 stores will close by mid-May at the latest. 

In total, Intertoys has 400 branches, two distribution centers and a service office. But the stores of the around 100 Dutch franchisees and the chain's Belgian activities fell outside the chain's bankruptcy. They will have to decide whether they want to continue under the new Intertoys.

Intertoys was declared bankrupt by the court in Amsterdam on February 21st. The toy store chain struggled with falling sales for years, partly due to the growth of online stores and discount stores. 

Green Swan previously also bought Maxi Toys and Belgian toy chain Bart Smit. 

Tags: