Toys R Us Goes Into Administration Putting 3200 Jobs At Risk

Toys R Us Goes Into Administration Putting 3200 Jobs At Risk

EDIT 14/03/18: All Toys R Us stores in the UK are to close within the next 6 weeks according to news sources. TheBBCand Sky News report that no buyer has been found, and that as well as the stores already marked for closure the rest will follow, resulting in more than 3000 job losses.

EDIT 09/03/18: Toys R Us* have confirmed that the last date for redeeming Gift Cards in Sunday 11th March 2018, so you need to spend them in store by that date or they will be worthless. They have also stopped issuing any refunds, and will exchange only. If you have a Time To Pay Agreement you need to have settled the account and collected your goods by Sunday 11th March. The latest information from Toys R Us can be found here*.

Toys R Us have been struggling for some time now, and this morning comes the news that the company has officially gone into administration, putting 3200 jobs at risk in the UK.

They had been searching for a buyer since weak trading left them with a £15m VAT bill demand that they had little hope ff paying, and today they have appointed the administrator Moorfields.

A Moorfields spokesperson said: "We will be conducting an orderly wind-down of the store portfolio over the coming weeks.

"All stores remain open until further notice and stock will be subject to clearance and special promotions.

"We're encouraging customers to redeem their gift cards and vouchers as soon as possible".

So although stores remain open for the time being, apart from the 60 already in the process of closure, if you have any gift cards or gift vouchers you need to get them spent now.

This is a breaking story and we will keep you updated with further developments.


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