The group Smoby-Majorette,
The group Smoby-Majorette, the number one toy french flagship industry of Jura, awarded in 2005 by the price of "creative audacity" presented by Jacques Chirac turned a new page in its history. Monday, March 3, the Commercial Court of Lons-le-Saunier, has designated the German toy manufacturer, Simba, to the company placed in receivership in October 2007. Its offer has been preferred to that of the holding company Abcia Grenoble. "Arbeit (work) now!", Launched the President of the Commercial Court at the address of the representative of Simba after his decision. The German group, whose bid is estimated around 24 million euros, will have to rebuild society suffocated by a debt of 270 million euros in search of a buyer for more than a year.
CHRONOLOGY
19 MARCH 2007:
Group Smoby-Majorette, overwhelmed by a debt of 270 million euros, was placed under safeguard procedure and is seeking a buyer.
MAY 11:
Specialist American toy MGA Entertainment Group buys jurassien for symbolic 1 euro.
OCTOBER 9:
Smoby-Majorette is placed in receivership, the Commercial Court of Lons-le-Saunier (Jura) believing that MGA Entertainment "is not able to present a viable backup plan."
3 MARCH 2008:
The German Simba is designated to resume Smoby and will maintain 401 jobs five years to 1080 in France.
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To achieve this, the social breaks is inevitable. Simba, based in Fürth, a few miles from Nuremberg, has pledged to be kept for five years on 401 jobs in 1080 than Smoby in France. A abroad, it only redeem the group's french without specifying the fate of the 1200 other employees. The manufacturer of small cars Majorette is itself not part of the plan, Simba believing that its activity is redundant with those of its brands and Schuco Dickie. Candidates for the resumption of the branch Majorette have until Monday, March 10 to present their offers to the commercial court.
The German group has retained the headquarters of Smoby, renamed "Smoby Toys" in the region of Jura, to maintain the production tool, and put at the helm of the new company as one of its french managers. "There is a lot of work to do but we are ready, we are going to give a positive image Smoby," Uwe Weiler, the chief operating officer of Simba. He believes that the setbacks of Smoby are mostly related to acquisitions carried out by the group in recent years. While the toy industry was undermined by competition from Asia, Smoby has accumulated debts to grab Majorette in 2003 and Berchet in 2005. "Companies are stacked without synergies," Judge M. Weiler.
"A DISASTER IN THE REGION"
For the region the arrival of Simba is both a relief and a disaster. The German is expected to put an end to the troubles of Smoby, which for most people in the region have gone on too long. Since March 2007, when the company was asked to be placed in backup process, the group has been bogged down in the crisis.
In October 2007, its former CEO, Jean-Christophe Breuil, grandson of the founder, was suspected of embezzlement, and since the subject of a criminal investigation. Finally, in February, the American MGA Entertainment, which had acquired the company a few months earlier to 1 euro symbolically threw in the towel after being tried by the Tribunal de Commerce incapable of ensuring the viability of the french group.
For most employees, however, the impact is hard to cash. Some preferred to Simba offering Abcia. The holding company at the head of a dozen SMEs based in the Ain and the Jura, offered a few million euros less, but plans to retain 100 jobs over to resume Smoby. "It's money against the use winner who has" regrets and Jean-Louis Berchet, president of the French Federation of the toy.
Without emphasize one or another of tenders, Gerard Bailly, Senator and President (UMP) of the General Council, also believes that the decision of 3 March "is a disaster for the region." A Oyonnax, Arinthod, Lavans-Lès-Saint-Claude and Moirans-en-Montagne, municipalities and Jura de l'Ain, Smoby, born in 1924, was living employees Berchet, Ecoiffier, Majorette but also a whole host of subcontractors. "One out of every three jobs is linked directly or indirectly to Smoby" says a Jurassien. Mr. Bailly now put on "people, including former executives of Smoby, which would have the good idea to create their SMEs", and is ready to encourage them. It counts for claiming that government support for the plan abound of "revitalizing the Jura" 58 million euros launched in 2005.
CHRONOLOGY
19 MARCH 2007:
Group Smoby-Majorette, overwhelmed by a debt of 270 million euros, was placed under safeguard procedure and is seeking a buyer.
MAY 11:
Specialist American toy MGA Entertainment Group buys jurassien for symbolic 1 euro.
OCTOBER 9:
Smoby-Majorette is placed in receivership, the Commercial Court of Lons-le-Saunier (Jura) believing that MGA Entertainment "is not able to present a viable backup plan."
3 MARCH 2008:
The German Simba is designated to resume Smoby and will maintain 401 jobs five years to 1080 in France.
[-] Close
To achieve this, the social breaks is inevitable. Simba, based in Fürth, a few miles from Nuremberg, has pledged to be kept for five years on 401 jobs in 1080 than Smoby in France. A abroad, it only redeem the group's french without specifying the fate of the 1200 other employees. The manufacturer of small cars Majorette is itself not part of the plan, Simba believing that its activity is redundant with those of its brands and Schuco Dickie. Candidates for the resumption of the branch Majorette have until Monday, March 10 to present their offers to the commercial court.
The German group has retained the headquarters of Smoby, renamed "Smoby Toys" in the region of Jura, to maintain the production tool, and put at the helm of the new company as one of its french managers. "There is a lot of work to do but we are ready, we are going to give a positive image Smoby," Uwe Weiler, the chief operating officer of Simba. He believes that the setbacks of Smoby are mostly related to acquisitions carried out by the group in recent years. While the toy industry was undermined by competition from Asia, Smoby has accumulated debts to grab Majorette in 2003 and Berchet in 2005. "Companies are stacked without synergies," Judge M. Weiler.
"A DISASTER IN THE REGION"
For the region the arrival of Simba is both a relief and a disaster. The German is expected to put an end to the troubles of Smoby, which for most people in the region have gone on too long. Since March 2007, when the company was asked to be placed in backup process, the group has been bogged down in the crisis.
In October 2007, its former CEO, Jean-Christophe Breuil, grandson of the founder, was suspected of embezzlement, and since the subject of a criminal investigation. Finally, in February, the American MGA Entertainment, which had acquired the company a few months earlier to 1 euro symbolically threw in the towel after being tried by the Tribunal de Commerce incapable of ensuring the viability of the french group.
For most employees, however, the impact is hard to cash. Some preferred to Simba offering Abcia. The holding company at the head of a dozen SMEs based in the Ain and the Jura, offered a few million euros less, but plans to retain 100 jobs over to resume Smoby. "It's money against the use winner who has" regrets and Jean-Louis Berchet, president of the French Federation of the toy.
Without emphasize one or another of tenders, Gerard Bailly, Senator and President (UMP) of the General Council, also believes that the decision of 3 March "is a disaster for the region." A Oyonnax, Arinthod, Lavans-Lès-Saint-Claude and Moirans-en-Montagne, municipalities and Jura de l'Ain, Smoby, born in 1924, was living employees Berchet, Ecoiffier, Majorette but also a whole host of subcontractors. "One out of every three jobs is linked directly or indirectly to Smoby" says a Jurassien. Mr. Bailly now put on "people, including former executives of Smoby, which would have the good idea to create their SMEs", and is ready to encourage them. It counts for claiming that government support for the plan abound of "revitalizing the Jura" 58 million euros launched in 2005.
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