Reports in the French media say that Smoby has been placed under a form of ?Chapter 11? protection.
A French court has apparently placed the company under a “redressement judiciaire” order which means that MGA Entertainment which bought the firm earlier in the year, may not be able to prevent it being sold off again in order to recover its debts.
MGA has apparently struggled to manage the firm’s €276.7m debt. The firm will be back in a commerce court in two months to review the position.