It's been a tumultuous few months for Toys R Us. First, the US side of the company filed for bankruptcy in September last year. Two months later, the toy giant announced that 26 branches in the UK would be closing. A week after that, the whole chain nearly went — but a last minute deal saved it. Then, earlier this month the whole UK side of the business was put up for sale. And now, the store has gone into administration.
All stores will remain open in the meantime, but the future of Toys R Us remains unclear, and the jobs of the 3,000 staff members employed by the company across its 105 UK branches are now at risk.
Joint administrator Simon Thomas said, "We will make every effort to secure a buyer for all or part of the business." He also went onto say that the company's smaller stores have been more successful than their larger, older stores — meaning perhaps the big warehouse-style Toys R Us branches are the ones in most danger of closure. Understandable, considering larger stores will likely have larger overheads.
It's not looking good for the company, considering its record over the past few months, but it will be sad to see it go from our high streets. There aren't many toy retailers left — and won't someone please think of Geoffrey??