Troubled Toys R Us chain set to close all its UK stores

Toys R Us is to shut all 100 of its United Kingdom stores and axe 3,000 jobs after administrators failed to find a buyer for the collapsed retailer.

By The Newsroom
Wednesday, 14th March 2018, 11:22 am
Updated Wednesday, 14th March 2018, 2:35 pm
Toys R Us is to shut all its branches.
Toys R Us is to shut all its branches.

Among its branches are Gateshead's Metrocentre, Teesside Park, near Stockton, and a pop-up shop in The Bridges, Sunderland, which only opened towards the end of last year.

While around a quarter of its stores are shutting immediately, the Echo understands that the Sunderland premises will remain trading for around a month.

The troubled American toy chain appointed Moorfields Advisory to oversee an administration at the end of February after the firm failed to find a last-minute rescuer.

It is thought that Moorfields will now begin a six week "wind down" of the store estate.

A total of 67 staff at the company's head office in Maidenhead have now been made redundant and 25 stores have either closed in recent days or are due to close by Thursday.

Simon Thomas, joint administrator and partner at Moorfields, said: "We have made every effort to secure a buyer for all or part of the company's business.

"This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline.

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

Toys R Us is one of the nation's biggest toy retailers.

Moorfields said at the time of the chain's collapse, which followed financing problems in America, that it was making "every effort" to secure a buyer for all or part of the business

When the company announced last September that it was moving into the former Pep & Co unit, in the Market Square, shopping centre director Andy Bradley said “this is a great coup for The Bridges".

Ten people were employed by the shop when it opened.