“We will make every effort to secure a buyer for all or part of the business.”
Administrators have this morning been appointed for the UK’s biggest toy retailer, Toys R Us.
The move puts 3,000 UK jobs at risk, although the administrator – Moorfields – has confirmed that all 105 stores will remain open until further notice.
Moorfields partner Simon Thomas said that every effort will be made to secure a buyer for all or part of the business, which had managed to avoid administration in December last year after it secured a deal with the Pension Protection Fund for £9.8 million to be injected into its retirement scheme over three years.
Toys R Us had also been facing a £15 million tax bill.
He commented: “Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided.
“The newer, smaller, more interactive stores in the portfolio have been outperforming the older warehouse-style stores that were opened in the 1980s and 1990s.”
A sale of remaining products is now expected, although this will take place in stores only as the click and collect and online services will be closed immediately.
