TOYS 'R' US Closing All UK Stores

The Toys R Us store at Oldbury. All the shops are expected to close over the next six weeks

The Toys R Us store at Oldbury. All the shops are expected to close over the next six weeks

Toys R Us is one of the nation's biggest toy retailers, employing more than 3,000 across 100 stores in the UK.

All Toys R Us stores in the United Kingdom will close in the next six weeks following the chain's collapse into administration.

Simon Thomas, joint administrator, said Moorfields' had negotiated with 120 different parties, a lot of them interested in buying up stock, and half a dozen looking at the whole business.

Competition from outlets like Walmart, Target, and Amazon contributed to Toys "R" Us's demise, which left them with $4.9 billion in debt when it filed for bankruptcy last fall.

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The toy chain appointed Moorfields Advisory to oversee an administration at the end of February.

It's believed around 25 stores will be shut down tomorrow, with the remaining 75 being closed down over the next six weeks.

'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 hard decision to. proceed with a controlled store closure programme", Thomas said.

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On the same day, electronics retailer Maplin announced it was heading into administration - adding to the scores of established high street names to have folded in recent years.

Compounding the retail sector's pain are the painful restructurings of high street eateries Byron, Prezzo and Jamie Oliver's casual dining chain, as well as rising business rates bills.

Mr Thomas said remaining stock would be discounted further and encouraged customers to "take advantage of the special offers available in store while stock levels remain high".

"It's distressing news for employees of Toys 'R" Us and their families, especially because their fates have been uncertain for so long.

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