Toys R U.S. to shutter 100 stores in the UK


The toy retailer, which is owned by a consortium of private equity firms, had been searching for a buyer for its United Kingdom business for several weeks before formally appointing administrators last month.

Moorfields said at the time of the chain's collapse that it is making "every effort" to secure a buyer for all or part of the business, but no suitor materialised in what is proving to be a hard time for all retailers.

In addition to selling toys and stationary, Toys "R" Us was also a pretty prominent games retailer back in the day, with this particular author getting his first taste of the PlayStation 2 in Birmingham's very big megastore nearly two decades ago.

Administrators Moorfields was appointed to Toys "R" Us last month, as it started to try and find a way to pay the companies' 15 million dollar tax bill.

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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.

Simon Thomas, joint administrator, said: "This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline".

Moorfields said at the time of the chain's collapse that it is making "every effort" to secure a buyer for all or part of the business.

On the same day, electronics retailer Maplin announced it was heading into administration - adding to the scores of established high street names to have folded in recent years.

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Performance was also said to have been dented by soaring inflation, falling consumer spending and competition from online rivals.

"All of the remaining 75 Toys R Us and Babies R Us stores will remain open until further notice".

Toys R Us has extended its nationwide discounting programme to encourage customers to take advantage of special offers available in store as part of the wind-up process. We'll keep you posted on any new details.

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