Feb 28, 2018

Toys R Us UK goes into administration

Toys R Us has gone into administration, putting 3,000 UK jobs at risk. Moorfields has been appointed to begin "An orderly wind-down" of the UK's biggest toy retailer. 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." The UK arm of Toys R Us - its US owner filed for bankruptcy protection last September - has 105 shops. Toys R Us managed to stave off administration in December, when it struck an agreement with the Pension Protection Fund to inject £9.8m into its retirement scheme over three years.

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