The new owners of toy store chain Intertoys are closing another 60 branches, the company said on Thursday. A total of 150 stores will close, and the group will continue with over 230 stores, around 100 of which are franchises, NU.nl reports.
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.
Crowds of people descended on Intertoys stores throughout the Netherlands over the weekend. As the toy store chain was declared bankrupt on Thursday, Sunday was the last chance customers had to spend their unused gift cards. Customers faced delays both on Saturday and Sunday due to technical problems caused by the crowds, ANP reports.
Toy store chain Intertoys was declared bankrupt by the court in Amsterdam on Thursday. The chain's stores will remain open for the time being at the request of the bankruptcy administrators, who are still focusing on a restart for the company, NU.nl reports.
The Blokker family is putting the Blokker chain up for sale, president-commissioner Michiel Witteveen confirmed in an interview with Financieele Dagblad. "Blokker has been managed for 112 years from a family perspective and sometimes it is better to approach it from a different perspective. Fortunately the family sees that too", he said to the newspaper.
The family is currently looking for a buyer. According to FD, the debt the Blokker chain has at its sale will be waived. This amounts to at least 150 million euros, the newspaper writes.
Retailer Blokker Holding suffered the biggest loss in the company's history in 2017. The loss amounted to 344 million euros, nearly double the loss suffered in 2016, NOS reports.
Blokker Holding suffered a massive 180 million euros loss in 2016 - the biggest loss the retail group ever booked since its establishment in 1896, NOS reports.
The bulk of the loss can be attributed to store closures. Blokker's reorganization in the Netherlands and Belgium and reorganizations at Xenos and Intertoys cost the company over 100 million euros. In addition to that, sales at Blokker, Xenos, Marskramer and Big Bazar were disappointing. Revenues decreased by 5 percent, from 2,076 billion euros in 2015 to 1,965 billion euros in 2016.
Store chain Blokker will be closing 100 branches in the coming year. Sister company Marskramer will close another 100. A total of 1,900 jobs will disappear at Blokker, Marskramer and at parent company Blokker Holding, the company announced on Tuesday. Blokker Holding will eventually cease to exist. Marskramer will continue on a franchise formula. And chains Intertoys, Maxi Toys, Big Bazar, Xenos and Leen Bakker will be sold off, ANP reports.
Dutch consumers organization Consumentenbond issued a warning about the "My Friend Cayla" doll, following research by its Norwegian counterpart. According to the Norwegian organization, anyone with a smart phone can eavesdrop on children through the doll, or even talk to them. All that is needed is a bluetooth connection to the doll.
Toy stores Bart Smit and Toys XL will soon undergo name changes, parent company Blokker Holding announced. Both stores will continue under the name Intertoys. Blookker thinks that one toy brand will better serve the customer
Large retail chains are trying to lure customers with huge discounts at a time where they need to earn their money. "It is total panic," conclude retail experts.
Toy company Fisher Price sold its last Zwarte Piet dolls in The Netherlands yesterday after various media reported that the company would stop production of the doll, which is part of a set including Piet, Sinterklaas and his horse Schimmel. Online as well as in stores, there was a rush to buy the dolls, which sold by the hundreds.