Toys R Us to shut all stores leaving 3000 jobs lost

Toys R Us to shut all stores leaving 3,000 jobs lost

Toys "R" Us said on Wednesday that it would close all of its stores in Britain after failing to find a buyer, another ominous sign for a once-dominant toy retailer that has struggled under pressure from Amazon and other online sellers.

Moorfields Advisory were appointed at the end of February to begin "an orderly wind-down" of Toys R Us, the BBC reported.

Legendary retailer Toys "R" Us is to shut down completely in the United Kingdom, after administrators failed to find a buyer for the flagging business.

But yesterday staff were told that no buyer has been found for Toys R Us and that all stores will close.

Simon Thomas, joint administrator and partner at Moorfields, said: 'We have made every effort to secure a buyer for all or part of the company's business.

Attempts to sell the business have failed, meaning that the retailer will start plans to close down all of its 106 United Kingdom stores.

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


The chain has also announced it will provide special offers and discounts while the stocks remain high, including a 30% discount on outdoor toys and bicycles.

But don't be fooled by the sale stickers after we revealed how the toy retailer is flogging items at higher prices than their rivals.

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.

The stricken company has announced that it will be shutting the stores within the next six weeks after failing to find a new buyer.

Toys "R" Us recently responded to those reports, though it didn't confirm or deny them outright. We'll keep you posted on any new details.

He also said the company would support all the staff made redundant as a result of the decision to shut down operations.

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