Iconic Store Toys 'R' Us to Shut Up Shop in UK

Iconic Store Toys 'R' Us to Shut Up Shop in UK

Iconic Store Toys 'R' Us to Shut Up Shop in UK

Unfortunately, joint administrator Simon Thomas announced that those efforts had not been successful.

Attempts to sell the business have failed, meaning that the retailer will start plans to close down all of its 106 United Kingdom stores.

"The closure program for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow", the company said in a statement. It had set a deadline of Wednesday to find a buyer for its remaining stores.

Toys R Us will shut all 100 of its United Kingdom stores after the retailer's collapse into administration.

As reported by The Guardian, the decision comes after administrators failed to find a new buyer for the struggling chain, which past year voluntarily filed for bankruptcy protection in the USA and Canada.

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.

Toys R Us has extended its nationwide discounting programme to encourage customers to take advantage of special offers available in store as part of the wind-up process.

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High street chains across the board have been hit hard by falling consumer spending, soaring Brexit-fuelled inflation and competition from online rivals.

Toys R Us is no longer accepting giftcards and vouchers.

He also said the company would support all the staff made redundant as a result of the decision to shut down operations.

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

'It's a sad end to an era, but not surprising news because we know they've have been struggling to find a buyer.

'Now is the time to check what redundancy rights you have and dig out any income or mortgage protection policies you hold.

'The deadline has now passed to use gift cards in store and online so these are now unlikely to be accepted.

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