Date for closure of Toys R Us at Lakeside confirmed

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Credit Isaac Larian

Toys R Us will shut its final stores in just under two weeks, resulting in the loss of more than 2,000 jobs, its administrators have confirmed.

The iconic toy chain collapsed in February and insolvency specialist Moorfields has been selling off the retailer's stock at knockdown prices. "We are working closely with the 2,000 employees affected by the closures to ensure they receive the support they need for redundancy and other compensatory payments".

The spokeswoman said there were now no plans to close stores or cut workers because of the potential move.

Toys R Us, which has 105 stores across the United Kingdom, went into administration after failing to find a buyer for the company as a going concern.

The toy store will no longer be able to accept returns for refunds and gift cards, too, are no longer being accepted.

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Following a restructuring plan that failed and poor sales during the holiday shopping season in the USA, it was announced by the company in March that it would shutter its US and Puerto Rico stores.

Further afield, Toys R Us is set to close in Bedford on Saturday, April 21, Milton Keynes and Harlow the next day, and in Luton and Enfield on Monday, April 23.

The company had initially saved itself in December by signing a Company Voluntary Arrangement which put debts on hold and gave it time to find a buyer.

Beleaguered retail chain Toys R Us negotiating to sell its 85 percent stake in its Asian business, including the Japan operations.

Many retailers have also struggled to keep up with the rise of online retailing and a change in shopping habits.

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