Mar 14, 2018

Toys R Us to close all UK stores after failing to find buyer

The UK arm of Toys R Us is to close all of its 100 UK stores after administrators for the stricken business failed to find a buyer. Simon Thomas, of administrators Moorfields, said that he had imposed a deadline of midday on Wednesday for potential buyers of Toys R Us after its US parent went into bankruptcy protection last year. Toys R Us UK still employs over 2,000 people, Mr Thomas said. The administrators will make 67 people redundant at Toys R Us' UK head office in Maidenhead by the end of Wednesday. The failure of Toys R Us in UK comes as retail sales in Britain have stalled as wage growth has been outstripped by inflation, while many consumers now prefer to shop for big-brand toys online.

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