Toys R Us Broughton & Sealand Road to close within 6 weeks

Marco Green
March 14, 2018

The toy chain announced all of its 100 United Kingdom stores will close their doors after administrators failed to find a buyer for the retailer.

Toys R Us faces a £15 million tax bill that it has been unable to pay, with the company's U.S. parent company also said to be nearing collapse, potentially shutting down 800 stores in the United States this month.

Last month, Moorfields, the administrator managing the business, said that it was making "every effort" to secure a buyer for all or part of Toys "R" Us, to help save the company.

The chain was plunged into liquidation in January after failing to pay a £15million Value-Added Tax bill and it put jobs across the country at risk. The company laid off 67 people at its headquarters Wednesday.

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

'It is therefore with great regret that we have made the hard decision to make a number of positions redundant at the company's head office in Maidenhead and proceed with a controlled store closure programme'.

The closure of Toys R Us marks the end of an era.

Is the Great British high street DYING?

Toys R Us previously stated that all purchased gift cards would be honored until Sunday, March 11, and the retailer has stood by this statement.

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. Those sales were extended on Tuesday and products are being offered at discounts of as much as 30pc.

"Toys 'R" Us have said all orders received prior to them going into administration will be fulfilled or refunded. Download it today and continue to enjoy STV News wherever you are.

Other reports by Click Lancashire

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