It’s official – the UK division of Toys R Us will close.
According to The Guardian, after entering administration the troubled retailer has failed to secure a buyer and will close its doors for good. All 100 stores will be closed, with 3,000 employees losing their jobs.
25 stores will close tomorrow, with the remaining 75 closing down over the course of the next six weeks. 67 members of staff at the group’s head office have already been made redundant.
Simon Thomas, joint administrator and partner at Moorfields Advisory (the company tasked with overseeing the administration process), said: “We have made every effort to secure a buyer for all or part of the company’s business. This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline.
“It is therefore with great regret that we have made the difficult decision to make a number of positions redundant at the company’s head office in Maidenhead and proceed with a controlled store closure programme. We are grateful for the hard work of Toys R Us staff during this difficult period and will be providing support where we can to those who have been made redundant.”