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Toys"R"Us UK goes into administration

Staff Writer |
Toys"R"Us has gone into administration, putting 3,000 UK jobs at risk.

Administrators have been appointed to begin "an orderly wind-down" of the UK's biggest toy retailer following the failure to find a buyer.

They said that all 105 Toys"R"Us stores will remain open until further notice.

Joint administrator Simon Thomas said: "Whilst this process is likely to affect many Toys"R"Us staff, whether some or all of the stores will close remains to be decided."

Toys"R"Us has been facing a £15m tax bill. However, poor sales have made it unlikely that it can make the payment.

Mr Thomas said: "We will make every effort to secure a buyer for all or part of the business.

"The newer, smaller, more interactive stores in the portfolio have been outperforming the older warehouse-style stores that were opened in the 1980s and 1990s."

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