Toys R Us UK is filing for insolvency. After the company failed to find a buyer and a 15 million pounds VAT bill was due on Tuesday, Toys R Us UK went into administration today. (more….)
Toys R Us UK had been trying to find a buyer for a while, but no one wanted to take over the 105 UK stores.
Stores will remain open for now and will sell remaining stock at clearance prices. Gift vouchers can be redeemed but you are encouraged to do so as soon as possible.
You can no longer order items from the Toys R US UK online store. If you want to find good deals in one of the stores you have to hurry though, stores could close at any time without notice.
The administrators are looking to secure buyers for either all or part of the business. Some profitable stores could survive. Toys R Us UK has 3,200 employees who face a very uncertain future now.
It remains to be seen if other TRU branches in Europe will face similar problems. Toys R Us is searching for bids for its stores in Europe. And they are in talks with their Asian business partner to take over the stores in Asia.
Will you miss TRU UK?
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