The Toy "R" Us toy chain will continue its activities in Portugal and Spain after the purchase by Portuguese investors, with the executive presidency of Paulo Sousa Marques, the company announced in a statement.
"The operation of Toys" R "Us Iberia will be continued in use and development in Spain following a process of acquisition by Portuguese investors, Green Swan, represented by Paulo Andrez", who join the current management team, "as new owners", Says the company.
"This process guarantees the continuity of the Toys" R "Us activities in Spain and Portugal, ensuring that all stores remain operational and maintenance of the jobs is guaranteed, after some uncertainty due to the closure of the company in markets such as the United States. States and the United Kingdom, this process, which was supported by Toys & R & # 39; R & # 39; Us Group and the & # 39; stakeholders & # 39; [partes interessadas] from Toys "R" Us Iberia, confirms the sustainability of the company in Spain and Portugal ", he adds.
Paulo Sousa Marques becomes the new CEO of Toys "R" Us Iberia, "which guarantees the continuity of the success of this historic brand on the markets of Spain and Portugal."
"We have a lot of confidence and confidence in the future of this company, with all the human capital and skills available, in the employees and partners, and very motivated to continue to offer families, their babies and children. best product range, from childcare, teaching materials and entertainment. "
Toys "R" Us Iberia has been acquired by a Portuguese company, Green Swan, with 60% of the share capital, represented by Paulo Andrez, and the management team, with 40%, which ensures the continuity and viability of the brand in Spain and Portugal.
Jean Charretteur, Director General of Iberia and France, said: "This agreement is a consequence of the process that the company has developed since March and that was aimed at finding an investor who has the means and ambition to take care of it, in line with the implementation of the business plan, the viability of Toys "R" Us in Spain and Portugal ".
A new store will be opened in Madrid in September.
"In the coming weeks, the new goals for the company in Spain and Portugal will be defined, which currently has 61 stores and online stores and 1,300 employees, and as usual is shared with all teams and historical partners, further ensuring the future of this iconic brand, while maintaining its philosophy of offering unique experiences in stores, physical or online, that maintain their activity with normality, "he says.
On March 14th, the group announced that it would close all stores in the UK, leaving more than 3,000 people unemployed. The next day it announced that it will continue with the settlement of the company in the United States.
Simultaneously with this announcement Toys "R" told Us Iberia that it would study the viability in Spain and the possibility to sell its activities on the Spanish market, where it has 53 stores and 1,600 employees.
Toys "R" Us entered Portugal in 1993, with the opening of the shops of Telheiras (Lisbon) and Vila Nova de Gaia. A year later it opened the unit in Cascais Shopping and in 1997 in Braga and in the shopping center Colombo (Lisbon).
In 2002 it opened two stores in the Almada Forum and in the Aveiro Retail Park. In 2012 he arrived in Freeport, in 2014 at Mar Shopping, opened in 2016 in Braga and in 2017 he opened the store in Guimarães, according to company data.