Toys R Us to shut all UK stores, resulting in 3,000 job losses

Toys R Us is to shut all 100 of its UK stores, with closures beginning on Thursday after administrators failed to find a buyer for the collapsed retailer, resulting in the loss of 3,000 jobs.

The chain’s administrators said the group would be extending a nationwide discounting programme and encouraged shoppers to “take advantage of special offers while stocks remain high”.

The toy chain appointed Moorfields Advisory to oversee an administration at the end of February after the firm failed to find a last-minute rescuer.

On Wednesday, staff were told that no buyer had been found for Toys R Us and that all stores would close, with 67 staff at the group’s head office in Maidenhead, Berkshire, made redundant.

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.

Source: theguardian