Toys "R" Us will close eleven stores in Spain after bankruptcy

2022-07-14 19:24:35 By : Mr. Steven Wang

Please try a new searchMadrid, Jul 14 (.).- The toy chain Toys "R" Us, in bankruptcy proceedings since last April 21, will definitively close eleven stores in Spain if the sale of its production unit to the Italian Artsana (Prénatal and Chicco), according to the CCOO union.In a statement, the CCOO explained this Thursday that on July 11 the first meeting of the employment regulation file (ERE) negotiating table was established and held, where the Inter-Center Committee was informed of the next closure of eleven establishments.In this sense, the representatives of the workers were informed of Prénatal's offer to take over the production unit of Toys "R" Us Iberia, keeping a total of 35 stores, in addition to the central offices and the warehouse.The operation, approved by the commercial court, must receive authorization from the National Commission for Markets and Competition (CNMC), which will rule after the summer after having approved the sale in the first phase.Thus, the company will close the stores in Alcalá de Guadaira, Guadalajara, Vitoria, Zubiarte-Bizkaia, Islazul-Madrid, Alcalá-Madrid, Córdoba, Sant Boi, Atalayas-Murcia, Ponferrada and Castelló.According to the union, some of these stores have been closed since May, with workers at home on paid leave.The representatives of the workers have requested to know the definitive number of affected centers and employees, and ask that the compensation be, at least, 28 days per year with a cap of 15 monthly payments.The next meeting of the ERE negotiating table will take place next Monday, July 18.Toys "R" Us filed a request for voluntary bankruptcy in Spain on April 21, with the aim of guaranteeing its future and maintaining the largest number of jobs while looking for investors.The toy chain was affected by the closure of physical stores during the pandemic and, despite having managed to improve its results in 2021, the last brake on its recovery occurred in the last Christmas campaign, when the shortage of containers prevented it from receive enough merchandise to meet the increase in demand.Currently, the company has 891 employees both in Spain and in the neighboring country, when in 2018 the toy group had 53 stores and 1,600 employees in Spain.In 2018, the parent company filed for bankruptcy.It liquidated its business in the United States and went bankrupt in the United Kingdom, while in Spain the brand's management declared the business profitable.That same year the Portuguese fund Green Swan took over the reins of Toys "R" Us Iberia by taking 60% of the company's capital, while the rest remained in the hands of the management team.Havana, Jul 14 (.).- The number of international travelers in Cuba during the first half of the year reached 682,297, which represents an increase of 496% compared to...Washington, Jul 14 (.).- The United States Department of Transportation authorized American Airlines (NASDAQ:AAL) to expand its destinations in Cuba beyond Havana after...Rome, Jul 14 (.).- The President of the Italian Republic, Sergio Mattarella, did not accept this Thursday the resignation of the Prime Minister, Mario Draghi, and commissioned him to appear before the...From Investing.com Spain we invite you to interact with other users and share with them your points of view and your doubts in relation to the market.However, in order for the debate to be as enriching as possible, please, we ask you to take into account the following criteria:How does the comments section work?All comments are published automatically as long as they do not violate any of the above rules.As soon as the system detects a possible "infraction", the comment is pending review, so it may take longer to appear on the screen (avoid duplicating comments).If the moderator detects that it is an inappropriate comment, he will proceed to eliminate it.If the user engages in such behavior, we will proceed to temporarily suspend your account and it will count as a first notice.If the behavior is repeated after the first notice, the account will be permanently suspended.Contact Technical Support with any questions that may arise.It is the only way of communication to deal with these issues.Are you sure you want to block %USER_NAME%?By doing so, neither you nor %USER_NAME% will be able to see each other's posts on Investing.com.%USER_NAME% has been successfully added to your blocked users listYou just unblocked this person;you have to wait 48 hours to be able to block it again.Tell us what you think of this comment