Final closing dates for Toys R Us stores are revealed
13 April, 2018, 07:29 | Author: Joshua Bennett
The closure will result in the loss of 2,000 jobs.
As Toys "R" Us continues the process of shuttering its United States operations-and closes down all of its UK locations-the retailer has received an US$80-million commitment from its Taj noteholder group that will be used as incremental financing for its Asian and Central European operations.
When the chain of large toy shops failed in February, Moorfields, the insolvency specialist, began selling off its stock.
The retailer's administrators have confirmed over 2,000 employees will be made redundant.
Simon Thomas, joint administrator and partner at Moorfields, said: "We are grateful for the hard work of everybody at Toys R Us during this extremely difficult and challenging time".
Returns for refunds and gift cards are no longer being accepted by the company.
It has now been revealed though that you have less than two weeks to continue to take advantage of this state of affairs, as the iconic high street chain will officially close its doors on April 24.
The company had initially saved itself in December by signing a Company Voluntary Arrangement which put debts on hold and gave it time to find a buyer.
The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin and a host of firms undergoing painful restructurings, including New Look and eateries run by celebrity chef Jamie Oliver, as well as Byron and Prezzo.
Many retailers have also struggled to keep up with the rise of online retailing and a change in shopping habits.
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