Toys"R"Us UK goes into administration
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." ■