After administrators failed to find a buyer
It is understood that struggling retailer Toys R Us will be shutting all 100 of its UK stores in the next six weeks after administrators failed to find a buyer, resulting in a potential loss of 3,000 jobs.
Toys R Us had been affected as parents head online to purchase bikes, action men & unicorn toys. An official announcement is expected later today.
The toy chain had appointed Moorfields to oversee an administration after the firm failed to find a last-minute rescuer. Moorfields will now reportedly begin a six-week “wind down” of the store estate.
Lat month, Toys R Us and Maplin collapsed, putting 5,500 jobs at risk.
Moorfields said at the time of the chain’s collapse that it is making “every effort” to secure a buyer for all or part of the business, but no suitor materialised in what is proving to be a dire time for high street retailers.