The Association has agreed to assist Youngsters’ Members in seeking independent legal advice and if necessary take action on their behalf.
Chairman Gary Grant sought authorisation for funding and with TRA director and Youngsters member Grant McKenzie set to work to identify appropriate legal assistance. Youngster’s members formed an action group and lawyers acting for the group were able to contribute and advise on the members’ behalf at a meeting on Friday 4th meeting with Youngsters receiver KPMG.
McKenzie said: “Our Lawyer has already demonstrated his abilities and skill in this situation and will be offering invaluable advice to Youngster’s Action Group Members over the coming days. We are very grateful to the Toy Retailers Association for their support at this critical time and recognise that costs going forward are ultimately up to the Youngster’s Members to shoulder.”
“The Action Group already has the enthusiastic support of many members, and all Youngsters members are encouraged to join and immediately benefit from the advice our Lawyers will be making available to us.
“In the meantime the situation remains the same and members should not be confused by, or take any action in regard to communications from suppliers in relation to the stock supplied directly to the member and invoiced via Youngsters.
“What has happened to Youngsters has serious consequences for the whole of the toy trade both long and short term, and it is essential that the problems and issues caused by the sad demise of a company that has operated for the benefit of both retailers and suppliers since 1970, should be carefully thought through, and dealt with quickly, properly and fairly, unlike the procedures that led to its demise”
Three alternatives seem to be emerging for longer term supplies for Youngsters’ members: joining Toymaster with the full package of member services, obtaining supplies via Magson which has acquired the stock and some of the assets of Youngsters, or joining AIS who have also put together a buying group deal for Youngsters Members.