Toys R Us to Shut ALL Stores on April 24th
- Final stores will shut in less than 2 weeks
- Over 2,000 employees will be made redundant
- Last stores will shut on the 24th April
- Huge discounts will be made on remaining stock
Toys R Us will shut its final stores in just under two weeks, which will result in the loss of more than 2,000 jobs.
The toy chain collapsed in February and insolvency specialist Moorfields has been selling off the retailer’s stock at knockdown prices.
Moorfields has now announced that the remained 75 Toys R Us stores will close on the 24th April, and the 2,054 employees that work there will be made redundant.
Simon Thomas, joint administrator at Moorfields, said, “We are grateful for the hard work of everybody at Toys R Us during this extremely difficult and challenging time.
“We are working closely with the employees affected by the closures to ensure they receive the support they need for redundancy and other compensatory payments.”
Toys R Us appointed Moorfields to handle the administration when the company was unable to pay a £15m tax bill.
After failing to find a buyer for the business, Moorfields said in March that is would need to close all of Toys R Us’s 106 stores, and immediately make 67 chief staff at the chain’s head office redundant.
The remaining stores will be open as usual until the last day of trading, and there are currently extended discount of up to 70% in place from today.
High Street retailers have been battling against a combination or rising costs and a fall in consumer confidence.
Many retailers have also struggled to keep up with the rise of online retailing and a change in shopping habits.