Toy company Imaginarium closes all but two stores throughout Spain

TOY company Imaginarium is closing all but two stores in Spain and laying off 119 employees nationwide.

The two stores which will remain open are in Malaga at El Ingenio and in Zaragoza at Aragonia.
The company has confirmed to the workers’ representatives that it will have to lay off 119 out of 144 employees, in 41 stores.
The unions insist on the need for an explanation of the documents presented, and in particular on the situation of the bankruptcy, the refinancing agreement, the viability plan that allows activity to continue, the payment of wages for the month of February and the date when the dismissals will come into effect.
The secretary general of the Federation of Services of CCOO-Aragon, Marta Laiglesia, has said that the viability plan presented by the company does not guarantee business continuity and the toymaker’s lack of liquidity to meet payments is evident.
Laiglesia has called the situation “disturbing” and regretted that, while negotiating the furlough, the company has already started to close stores, making it difficult to believe in its viability. Imaginarium had initially planned to open stores until the end of the month.
The union insists that the company “assume their responsibility and comply with the law” and pay employees their salary and the settlement that they are entitled to by law.

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