De Pardieu Brocas Maffei has advised Toys “R” Us France in connection with the business recovery of the Group’s French activities further to the judicial rehabilitation proceedings opened at the end of July, thereby permitting to preserve most of its 1152 employees in 53 stores, after the liquidation in March of the American parent company and the closure of 735 stores in the United States.
The commercial court of Evry rendered a decision on8 October 2018 and retained the takeover offer submitted by the French company Jellej Jouets owned by the fund Cyrus Capital, one of the creditors of the parent company, American Toys “R” Us, associated with the French brand Picwic (25 stores of toys In France) and with the industrialist Tony Lesaffre
Jellej Jouets’ offer covers the takeover of 44 stores and 1.036 employees. They also undertake to grant to Toys “R” Us a line of credit of 70 million euros, of which more than 50 million will be dedicated to the financing of the inventory.
The commercial court of Evry had to decide between three candidates: an investment fund specializing in commercial real estate, FIB (Financière immobilière bordelaise); the founder and chairman of the group, Orchestra Prémaman, Pierre Mestre, supported by the American fund Pimco; and Jellej toys.