Published: Wed, March 14, 2018
Business | By Tara Barton

Toys R Us to shut all stores leaving 3000 jobs lost

Toys R Us to shut all stores leaving 3000 jobs lost

It was forced into administration when it was due to pay a £15m Value-Added Tax bill.

"We are grateful for the hard work of Toys "R" Us staff during this very difficult period and will be providing support where we can to those who have been made redundant", said Simon Thomas, the company's administrator.

From a retailer's perspective, not only is it sad to see a high street institution face the harsh reality of an online world, but those with outstanding gift cards will also be left empty-handed.

It seems like half the shops we remember from when we were kids have gone.

"We have made every effort to secure a buyer for all or part of the company's business", Thomas said.

The closure of Toys R Us marks the end of an era.

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The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin.

The Toys "R" Us branch in Reading opened before Christmas in 2017, after moving from its original store in Kenavon Drive, where 765 homes are being built.

Toys R Us has extended its nationwide discounting programme to encourage customers to take advantage of special offers available in store as part of the wind-up process.

Toys R Us faces a £15 million tax bill that it has been unable to pay, with the company's USA parent company also said to be nearing collapse, potentially shutting down 800 stores in the United States this month.

"Unfortunately Toys 'R" Us aren't the only retailer who have been struggling recently, so anyone who is anxious about the future of their jobs should hope for the best but prepare for the worst. The company said some buyers were interested in purchasing Toys "R" Us, but the company didn't receive any formal bids.

"If you are still waiting for your delivery today (14th March) then you need to log your order as missing. Toys 'R" Us are no longer accepting items for exchange or refunds'.

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