Toys "R" Us makes dozens of redundancies at head office in Maidenhead

Doug Mendoza
March 15, 2018

Toys R Us is planning to sell or close all 800 of its USA stores, according to multiple media reports.

Toys "R" Us is moving forward with United Kingdom store closures after failing to secure a buyer for all or part of its businesses.

A total of 67 staff at the company's head office in Maidenhead have now been made redundant and 25 stores have either closed in recent days or are due to close by tomorrow.

Bankrupt Toys "R" Us Inc is preparing to sell or close all 885 stores in its USA chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, a person familiar with the matter said on Wednesday.

With Toys "R" Us commanding 15% of the toy industry's USA sales, he may well be correct.

The chain announced in January it was closing 180 locations, roughly 20 percent of its retail footprint.

The company experienced some renewed success under CEO David Brandon, who since 2015 has sought to make Toys "R" Us the destination for children that it once was.

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The footwear maker and retailer Aerosoles closed 30 stores in 2016 but still had 78 operational USA locations last fall, when it filed for bankruptcy.

Prepare to see reminders of the death of your childhood everywhere you go, because giant toy retailer and Christmas gift dream maker/crusher Toys "R" Us is filing for liquidation this week, according to CBS.

The news emerged late Wednesday, six months after the retailer filed for bankruptcy.

Moorfields will begin with the closure of at least 26 loss-making stores earmarked late past year, when Toys R Us pushed through a restructuring before its demise.

Simon Thomas, one of the joint administrator, said: "We have made every effort to secure a buyer for all or part of the company's business". The company said some buyers were interested in purchasing Toys R Us, but the company didn't receive any formal bids.

Toys R Us has gone into administration.

According to the Washington Post, the company has struggled with almost a 8 billion debt.

Other reports by GizPress

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