Toys R Us UK legal costs set to reach almost £2 million

The final legal bills for the administration of Toys R Us in the UK are expected to reach almost £2 million.

Last year, Toys R Us UK fell into administration as the retail chain was forced to close all of the stores and liquidated the remaining stock. Toy World reports figures from The Law Society Gazette that puts the legal cost of the administration so far at £925,827 and is expected to rise by a further £872,000.

A second progress report from the insolvency company Moorfield puts the total projected bill at £1,798,627.

By the end of February 2019, DLA Piper had been paid £16,046 and is owed another £95,969, Kirkland & Ellis has been paid more than £450,000 and is owed a further £36,990, Stephenson Harwood has collected £360,000 and stands to receive another £18,255.

In the USA, Tru Kids is seeking to revive the brand with the former global chief merchandising officer at the helm. The intention seems to be that the new business will tap into the goodwill of customers and gap in the market that the retailer left. No mention has been made of the UK business, which folded around the same time as the US business.

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Graham

Graham is the Editor of BrickFanatics.com, with plenty of experience working on LEGO related projects. He has contributed to various websites and publications on topics including niche hobbies, the toy industry and education. If you would like to get involved with Brick Fanatics, as a builder, writer or photographer – then please contact Graham at graham@brickfanatics.com.

Graham

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