Magson rethinks buying group plans

With most members having already defected to Toymaster, the prospect of a Magson-owned buying group now looks less likely.
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While the Toyzone business is continuing to trade robustly, with a sale in-store currently underway, Magson now seems less certain about plans to revive the buying group part of the Youngsters business, as many members have already jumped ship.

Indeed, doubts still remain as whether Toyzone is part of its long term plans.

J A Magson Finance Director Neil Mason said: “We are still reviewing where we take the overall Youngsters’ Toyzone business.

“Since Agilo financed the takeover of Youngsters’ Toyzone, and we inherited the business, we have discovered a very mixed picture: on the one hand, encouragingly, many independent retailers, manufacturers and suppliers have been extremely supportive and positive.

“However, it’s also emerged that, before the receivership went ahead, most Youngsters members had actually joined Toymaster, or other buying groups, so were actually already allied to another trader when Agilo bought the group on 4th April. In addition, a few suppliers, normally reluctant to deal with independent retailers, are openly dealing direct.

“Naturally, as this information has come to light, some opportunities we had envisaged around setting up a potential buying group are looking much less likely.

“On the bright side, however, we continue to trade very robustly in the Toyzone stores and to re-stock them to a point where we can command much better returns and operate a Sale this month (April). J A Magson continues to grow and perform well and is also contacting all members to offer them support and a safety net option on their outstanding summer stock, should they need it.”



Master class

Toymaster?s first ever suppliers? meeting saw the buying group put the record straight on its financial well-being, while paving the way for a new influx of members following the collapse of Youngsters. Ronnie Dungan listened in?.

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