Orrick Advises Shareholders in Toys "R" Us Assets in France

October.08.2018

Orrick has advised Tru Taj, a subsidiary of Toys "R" Us which owns the toy retailer’s operations in Europe and Asia, in the restructuring and divestment plan of Toys "R" Us’ French assets.

On October 8, 2018, the commercial court of Evry, France, approved Cyrus Capital’s takeover offer of the French subsidiary, avoiding the closure of 44 Toys "R" Us stores in France and retaining 1,036 employees from its workforce. Tru Taj was placed in receivership in July 2018 and was within the insolvency plan after the bankruptcy of Toys "R" Us and the closure of its 735 stores in the United States.

The multidisciplinary Orrick team advising on this matter was led by partners Saam Golshani and Alexis Hojabr and included Alice Leonard, Frederic LalanceEmmanuel Avramesco and Hélène Daher.