Published: Wed, March 14, 2018
Worldwide | By Isabel Fisher

3000 jobs to go as Toys R Us confirms "controlled" store closures

3000 jobs to go as Toys R Us confirms

Any remaining stock will be discounted in the remaining stores that are open, so it may be worth visiting one of the outlets if you live nearby.

Moorfields said in a statement that it made "every effort" to secure a buyer for all or part of the company's business.

He also said the company would support all the staff made redundant as a result of the decision to shut down operations.

Unfortunately, the news is not good for the United Kingdom division of Toys "R" Us.

The administrators, Simon Thomas and Arron Kendall, partners in Moorfields Advisory Limited, said today (Wednesday 14 March), said that they had tried to find a buyer for all or part of the business.

Administrators stated that they "remain open to interest from potential buyers for parts of the business", though the future looks grim for the retailer after a buyer was not found prior to its February deadline.

Toys R Us are set to start closing all 100 United Kingdom stores on Thursday leaving 3,000 staff on the street after the retailer failed to find a buyer, leading to the collapse of the company.

Thomas also said that stock at those remaining stores would be discounted even further, and encourages customers to "take advantage of the special offers available in store while stock levels remain high".

High street chains across the board have been hit hard by falling consumer spending, soaring Brexit-fuelled inflation and competition from online rivals.

However, it added that a closure programme for the remaining stores would take "approximately six weeks" to complete, with "further announcements to follow". We'll keep you posted on any new details.

'The deadline has now passed to use gift cards in store and online so these are now unlikely to be accepted. Download it today and continue to enjoy STV News wherever you are. "Toys 'R" Us are no longer accepting items for exchange or refunds'.

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