INTERNATIONAL - Retailer Toys R Us UK has gone into administration, the firm appointed to oversee the process said, putting about 3000 jobs at risk.
The toy retailer has struggled in Britain in recent years as shoppers increasingly prefer to spend online rather than visit its large out-of-town stores. Moorfields Advisory said all stores would continue trading until further notice, but the company had entered administration after an “unsuccessful attempt to sell its business as a going concern”.
“We will make every effort to secure a buyer for all or part of the business,” Simon Thomas, a partner at Moorfields, said. The administration did not affect the operations of Toys R Us outside the UK.