News Smyths snatches up Toys 'R' Us stores across 3 countries

Discussion in 'Retail' started by Cody, Apr 25, 2018.

  1. Cody

    Cody

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    The toys giant, Smyths have decided to snatch up 93 Toys 'R' Us stores across Germany, Austria and Switzerland, whilst taking on the employees and management. With 90 Smyths stores across the UK, with 21 in the Republic of Ireland, this is certainly a move that'll see the toy giant grow across Europe.

    Tony Smyth, co-founder of Smyths said in a statement: "We are convinced about the future of multichannel specialist toy retail and are confident that we can successfully introduce and grow our brand in continental Europe," with Toys 'R' Us managing director of central Europe welcoming the move saying: "They have achieved strong growth in recent years and will complement our business in an ideal way. We already have many suppliers in common and we see this as good news for the supplier community and our other business partners."

    Toys 'R' Us is set to finally close the last of its 12 stores in the UK today, of which they've had a massive 70% clearance sale.

    Good bye Toys 'R' Us. It was nice knowing you.
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