Closest Toys R Us branch to Leamington set to close this month

Javier Howell
April 13, 2018

A Toys R Us went into administration and is due to shut all their stores in the next six weeks.

When the chain of large toy shops failed in February, Moorfields, the insolvency specialist, began selling off its stock.

Toys R Us, which has 105 stores across the United Kingdom, went into administration after failing to find a buyer for the company as a going concern.

After a failed restructuring attempt and poor December sales in the United States, the firm said in March it would close its stores in the U.S. and Puerto Rico.

Simon Thomas, joint administrator and Partner at Moorfields, told Toy World: "We are grateful for the hard work of everybody at Toys R Us during this extremely difficult and challenging time".

Moorfields Advisory Limited, administrators for the company, has confirmed the branch in Ocean Retail Park will shut on Friday, April 20.

Toys R Us in Norwich is set to close. "We are working closely with the 2,000 employees affected by the closures to ensure they receive the support they need for redundancy and other compensatory payments".

Electronics retailer Maplin went into administration on the same day, putting a further 2,500 retail jobs in doubt.

Its operations in Europe and Asia are said to be in a much more healthy state, with a lawyer for Toys R Us telling a USA bankruptcy court hearing yesterday that several bidders were interested in the Asian division.

Toys R United States continues to operate more than 700 stores across Asia, including Japan, China and Singapore.

The retailer said it struggled to keep up with the rise of online retailing and a change in shopping habits.

Other reports by Insurance News

Discuss This Article

FOLLOW OUR NEWSPAPER