Toys R Us prepares to shut 25 stores

Toys R Us is preparing to close around a quarter of its 106 UK stores, with the loss of hundreds of jobs, the BBC understands. The company is seeking approval from its board and US parent company to enter talks with the landlords. It hopes to strike a deal on Toys R Us's debts which will allow it to continue trading without being pursued for the money it owes. A Toys R Us spokesperson would not comment on the CVA proceedings, shop closures or job losses. The CVA process is separate to bankruptcy protection proceedings involving Toys R Us's US parent company, which were announced in September.

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