French toy store chain La Grande Récré has decided to focus on the French market and to close its Belgian branch, due to continuing financial difficulties. 16 stores will close, causing a job loss of 95.
All forein stores closed
After the demise of its American competitor Toys 'R' Us, La Grande Récré too finds itself in financial difficulties. The chain has been under Chapter 11 since March and has now produced a plan in which there is no more room for a Belgian branch as it will solely focus on its French home market.
La Grande Récré is part of the Ludendo group, which reaches a turnover of 460 million euro in around 400 stores, but which also has a debt of 150 million euro. The foreign stores in Spain and Switzerland will be sold and in France, only the 104 most profitable stores will remain.