The PicWicToys brand is placed in receivership

Who's next ? PicWicToys will have struggled to get through the health crisis and the crisis in general. The brand resulting from the merger between PicWic and the defunct Toys R Us is placed in receivership by the Commercial Court of Lille Métropole and the company Luderix International which manages the 45 stores will now have to find new investors to hope to get out of the bad financial step in which it is engaged.

A legal reorganization is often accompanied by the loss, at least temporarily, of confidence of the suppliers who will have to be patient to be paid and layoffs to reduce the airfoil. PicWicToys is not yet at the stage of judicial liquidation, but it will be the case if the recovery phase does not make it possible to settle the liabilities and find a sustainable and profitable activity. It will be necessary to wait for the end of the observation period and the possible results of the recovery plan to be fixed.

According to some sources, candidates for the takeover of the brand have already come forward, it remains to be seen whether their proposals will be to the taste of the Commercial Court. PicWicToys already had tried to save the furniture in 2020 by reducing its workforce by a third and closing a large handful of stores. There will undoubtedly still be layoffs and closures in the various takeover offers that could be put on the table.

The toy market in France will probably not grow out of it regardless of the outcome of this file, the contraction and consolidations carried out in recent years have not however improved the image of most of these brands such as Kingtoy, Cdiscount or Maxi Toys who fight with fake promotions and fake stock to try to resist the one whose name we do not say, especially when things are going badly. To be continued.