Is there hope for Toys R Us?

Cheryl Sanders
April 13, 2018

The closure will result in the loss of 2,000 jobs.

Several attempts were made to sell off stores in the U.S.as well as the United Kingdom but have been called hard with one United Kingdom administrator saying that any possible purchaser would have a hard time gaining the right to the name Toys R Us, which the parent company in the USA owns, amongst other things.

The retailer's administrators have confirmed over 2-thousand employees will be made redundant.

Craig Walker    
     GOING GOING... Shoppers are already panic buying Toys R Us products
Craig Walker GOING GOING... Shoppers are already panic buying Toys R Us products

Toys R Us appointed Moorfields to handle the administration when the company was unable to pay its £15m tax bill.

It has now been revealed though that you have less than two weeks to continue to take advantage of this state of affairs, as the iconic high street chain will officially close its doors on April 24.

Meanwhile, New Look and Carpetright have both announced plans to shut stores as part of restructuring plans.

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The company had initially saved itself in December by signing a Company Voluntary Arrangement which put debts on hold and gave it time to find a buyer.

Toys R Us to go BUST?

Traditional brick and mortar retailers in both the US and the United Kingdom amongst other nations have faced mounting pressure because of the continued increase in shopping online by consumers.

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As one final incentive to bag yourself something nice that you don't really need because you're 37 and saving for a flat, Thomas says the chain has powered-up some of the sale discounts today, with some stickers now promising monies-off levels of up to 70 per cent.

Further "Manager's Specials" deals are available on selected products in stores.

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