The entire UK division of Toys R Us is up for sale, as the US owner tries to escape some of its debt crisis by flogging off assets.
The closure plan that allowed the UK division to stay in business doesn't appear to be enough to stave off the vultures, which could be allowed to buy the UK and European assets -- and the livelihoods of 3,200 UK-based staff -- for a bargain price.
Sources tell the Guardian that a deal is on the cards before the end of the month, as, even in the world of big businesses, that's when all the direct debits come out and money problems are felt the most. It might not be an absolute disaster for all current employees, though, as reports suggest that restructuring specialist Hilco is one of the parties interested in buying the business -- and Hilco did a decent enough job resurrecting some of HMV from its administration hell. [Guardian]