What customers need to know about the Toys R Us collapse

What customers need to know about the Toys R Us collapse

Jobs at four Lincolnshire Maplin Stores and one Toys R Us shop are at risk after both companies went into administration on Wednesday.

Toys R Us' plunge into administration has put around 3,000 jobs at risk after the retailer failed to pay a £15 million Value-Added Tax bill.

The toy retailer has struggled in Britain in recent years as shoppers increasingly prefer to spend online rather than visit its large out-of-town stores.

Administrators from Moorfields Advisory saythey have commenced a "nationwide closing down sales programme" across the entire Toys R Us and Babies R Us store estate.

Maplin gift cards are still now being redeemed in store.

Toys "R" Us and Maplin, in particular, were fighting an uphill battle as consumers feel increasingly confident about buying many of their products without seeing them first.

The UK arm of the global toy chain narrowly avoided administration in December after a deal was agreed with the Pensions Protection Fund that involved cutting 800 jobs and closing a minimum of 26 stores.

But talks reportedly broke down, leaving Maplin's owners Rutlan Partners no choice but to call in the administrators.

Rain could result in flooding in central Pa.
The Ohio and other rivers caused basement flooding and sewage backups, as well as forcing riverfront businesses to close. There was about 1 1/4 inch of rainfall from Huntington to Elkins from Saturday to Sunday without much flooding.

All 100-plus stores in the United Kingdom will continue trading until further notice, with much of the stock being subject to clearance discounts and other special promotions.

This latest blow follows a wave of closures all over the USA as the toy giant, a staple of American family life since its founding in 1948, fails to hold its ground against online shopping platforms.

But many Toys "R" Us staff were likely to be affected, he added. The administrator said that the stores will remain open for now during an "orderly" wind-down process.

The retailer had until February 27 to pay off the bills but now the deadline has passed, the retailer's future isn't looking hopeful.

The administrators also said some stores may shut in the next few days.

Kirkland also acted for Toys R Us on the Chapter 11 filing for bankruptcy of its U.S. business in September 2017, as well as a deal with the Pension Protection Fund (PPF) that temporarily saved the company from collapse in December 2017.

"If you have recently bought anything from Toys R Us, you may not be able to claim a refund or exchange the item if they cease trading".