The toy specialist has six months to find a buyer.
The PicWicToys brand is going through a troubled period since this chain of toy stores born from the merger, in 2019, of Picwic and the French subsidiary of Toys’R’Us, has been placed in receivership according to information from the specialized site. LSA conso.
PicWicToys has 45 stores in France including one in Perpignan and employs 800 people for a turnover of around 200 million euros. From 7% market share in 2019, PicWicToys would have increased to 5.4% abandoning its position as the French leader in the sector to KingJouet and JouéClub.
According to LSA, PicWicToys now has an official deadline of six months to find investors. Citing sources familiar with the matter, the online consumer magazine indicates “that this research should be completed quickly”.
It must be said that time is running out since the period, in the world of toys, is crucial for ordering toys that will delight children during the end of year celebrations.