Toys R Us in the UK has entered administration, with 3,200 jobs in danger.
After months of uncertainty, UK retail mainstay and go-to LEGO destination Toys R Us has gone into administration. Moorfields is the firm responsible for winding the company down, stating that all 105 stores will remain open at the moment.
The BBC has spoken to Moorfields:
Joint administrator Simon Thomas said: “Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided.”
Mr Thomas said: “We will make every effort to secure a buyer for all or part of the business.
“The newer, smaller, more interactive stores in the portfolio have been outperforming the older warehouse-style stores that were opened in the 1980s and 1990s.”
Around two months ago, Toys R Us was given a reprieve by the Pension Protection Fund. After slow Christmas trading, unlikely to have been helped by the bankruptcy being widespread knowledge, the entire UK business was put up for sale.
As the administrators go about salvaging what they can from the ailing retailer, 3,200 jobs are at risk.