3000 made redundant as Toys 'R' Us shutters United Kingdom stores

3000 made redundant as Toys 'R' Us shutters United Kingdom stores

Professor Heiner Evanschitzky, co-director of Aston Centre for Retail Insights based at Aston Business School, said: 'A key problem for Toys R Us was a lack of clear focus: is it a big box discount store for toys, a store with a vast assortment of toys, a leader in quality and service?

The UK arm of the embattled US-based toy chain appointed Moorfields Advisory partners Simon Thomas and Arron Kendall to oversee an administration at the end of February.

Closing down signs are seen outside the Toys R Us store in Coventry Thomson Reuters LONDON (Reuters) - Toys "R" Us stores will disappear from Britain's shopping streets within six weeks, joint administrators for the retailer said on Wednesday, announcing plans to close the group's remaining 75 shops.

Stores will remain open until further notice and stock will be subject to a clearance discount or other special promotions.

"We have made every effort to secure a buyer for all or part of the company's business", Thomas said.

"The administrators remain open to interest from potential buyers for parts of the business but it has been necessary to make a total of 67 redundancies at the company's head office in Maidenhead earlier today".

"The closure programme for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow".

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A woman said: 'So sad that my future kids won't get to experience the magic of Toys R Us like I did'.

Toys "R" Us recently responded to those reports, though it didn't confirm or deny them outright.

Time to Pay. You can continue to pay off items and collect them until March 11.

"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".

The company has been dealing with financial difficulties and poor sales for some months.

The news comes after its parent company filed for bankruptcy protection in the USA and Canada past year with US$5bn of debt.

The Sun Online has contact Toys R Us and we are expecting a statement shortly.

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