Toys "R" Us Closing All UK Stores


Toys "R" Us Closing All UK Stores

Moorfields Advisory, the company's administrators in the United Kingdom, moved to shut down Toys R Us's business in the UK after it made considerable efforts to find a buyer for a portion or the entirety of the company.

"Toys 'R" Us have said all orders received prior to them going into administration will be fulfilled or refunded.

Unfortunately, joint administrator Simon Thomas announced that those efforts had not been successful.

Every one of the 100 Toys R Us stores throughout the United Kingdom will be closed causing around 3000 job losses.

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In Britain, the administrators had been trying to sell parts of the business.

But no suitor materialised in what is proving to be a bad time for high street retailers.

Recent reports indicate the USA division of Toys "R" Us could face similar closures and has already shut down stores in two waves.

The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin and a host of firms undergoing painful restructurings, including New Look and eateries run by celebrity chef Jamie Oliver, as well as Byron and Prezzo.

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As for the other 75 stores, they are expected to close within the next six weeks, resulting in a loss of around 3000 jobs. Those sales were extended on Tuesday and products are being offered at discounts of as much as 30pc.

"It's distressing news for employees of Toys "R" Us and their families, especially because their fates have been uncertain for so long".

Toys "R" Us recently responded to those reports, though it didn't confirm or deny them outright.

"We are grateful for the hard work of Toys R Us staff during this very difficult period and will be providing support where we can to those who have been made redundant". Download it today and continue to enjoy STV News wherever you are.

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The Sun Online has contact Toys R Us and we are expecting a statement shortly.

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