Pension War Could End Toys R Us This Week

By Gary Cutlack on at

Despite a recent streamlining of its UK operations, the warehouses of Toys R Us could grind to a complete halt this week due to a dull battle over pension provisions that could see the administrators called in by Thursday.

The potential administrative death of the chain has been brought into view by the Pension Protection Fund, which has demanded the struggling group pays £9m into its employee pension fund in order for the PPF to agree to restructuring arrangements. And the money has to be in by Thursday, so hopefully the Star Wars action figures are selling well -- or it could all be over for TRU in the UK.

It has already announced a plan to close 26 UK branches for the loss of 800 jobs; this move could see the company's entire workforce of 3,200 on the scrapheap, just in time for Christmas. [STV]

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