Toys R Us To Close All Stores In The UK
Following a failed attempt to find a buyer, Toys R Us will be closing down all 100 of its UK stores, which will result in the loss of 3000 jobs. The closures will begin on Thursday, with 25 stores closing, resulting in 541 staff members being made redundant.
It’s headquarters in Maidenhead, Kent will also result in 67 staff members being made redundant. The other 75 stores are expected to close down over the next siz weeks.
The chain’s administrators, Moorfields Advisory said they would be extending its nationwide discounts and are encouraging shoppers to “take advantage of special offers while stocks remain high”.
The administrators said they “remain open to interest from potential buyers for parts of the business” but it had not been possible to secure a sale by its stated deadline.
“We have made every effort to secure a buyer for all or part of the company’s business. 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.
It is therefore with great regret that we have made the difficult decision to make a number of positions redundant at the company’s head office in Maidenhead and proceed with a controlled store closure programme. We are grateful for the hard work of Toys R Us staff during this difficult period and will be providing support where we can to those who have been made redundant.”
Said Simon Thomas, who is the joint administrator and partner at Moorfields.
More bad news is expected later this week regarding the US side of the business, which has already announced planned store closures.
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