Retailer will start closing stores from Thursday after it failed to find a buyer.
Toys R Us will close all 100 of its UK stores – beginning from Thursday – it has been confirmed.
Administrators Moorfields Advisory has failed to find a buyer for the retailer following its appointment at the end of February.
According to The Guardian, about 25 stores will close on Thursday and 541 staff will be made redundant. The remaining 75 stores are likely to shut over the next six weeks.
67 staff at the group’s Maidenhead head office will also be made redundant.
In total 3,000 jobs will be lost.
Toys R Us will now be extending a nationwide discounting programme, with customers encouraged to take advantage of special offers while stocks are high.
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 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.
“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.”
