Colruyt Group and toy retail chain ToyChamp have reached an agreement in principle on a takeover of three quarters of the shares of DreamLand by ToyChamp. The chain thus gains control of the DreamLand. The Colruyt Group announced this this morning at a special works council.
Colruyt Group emphasizes that DreamLand will continue to exist as a brand and employer. But the restructuring does have an impact on employment: 192 jobs are under threat. Six stores would also have to close: one DreamLand and five DreamBaby stores. What they are is not yet known.
DreamLand is a toy store chain with 48 branches in Belgium, according to the website. The DreamBaby baby store chain has about thirty stores. Together they account for about 1,100 employees. The chain has been in trouble for some time. Turnover has dropped by more than six percent, the chain hardly makes a profit.
