Toys R Us will shut ALL 100 of its UK stores causing 3,000 job losses after administrators fail to find a buyer for collapsed retailer

Mail Online | 3/14/2018 | Abe Hawken For Mailonline
Click For Photo:

Click For Video:

Toys R Us is to shut all 100 of its UK stores after administrators failed to find a buyer for the collapsed retailer - resulting in the loss of 3,000 jobs.

The chain was plunged into liquidation in January after failing to pay a £15million VAT bill and it put jobs across the country at risk.

Moorfields - Advisory - Administration - End - February

It appointed Moorfields Advisory to oversee an administration at the end of February after the firm failed to find a last-minute rescuer.

But on Wednesday, staff were told that no buyer has been found for the retailer and added that all of its British stores will close.

Total - Staff - Company - Head - Office

A total of 67 staff at the company's head office in Maidenhead have now been made redundant and 25 stores have either closed in recent days or are due to close by Thursday.

These stores had been earmarked for closure as part of a restructuring before its demise and Moorfields will now begin a six-week 'wind down' of the remaining estate.

Simon - Thomas - Administrator - Partner - Moorfields

Simon Thomas, joint administrator and partner at Moorfields, 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 - Regret - Decision - Number - Positions

'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.'

Fans of the store were distraught this afternoon after learning it would be shutting all of its stores.

Media - Childhood - Memories - Person - GIF

Many took to social media to relive their childhood memories and one person created a poignant GIF showing Geoffrey the giraffe looking out into the sunset with a child.

Hundreds also took to Twitter to voice their disappointment...
(Excerpt) Read more at: Mail Online
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!