Another day and another Toys ‘R’ Us story, this time it’s the turn of the 44 stores in Australia where the company has applied for voluntary liquidation.
Toys R Us Australia has gone into voluntary administration just months after the US and British retail giant’s collapse.
Directors of the company resolved to appoint voluntary administrators McGrathNicol after the withdrawal of the final bidder for the sale of the Australian business.
All Toys R Us and Babies R Us stores will remain open and continue to trade while the administrators explore options for the sale of the stand alone Australian business or a recapitalisation through the voluntary administration process.
The company operates 44 retail stores across Australia and employs about 700 permanent staff. No employee positions are affected by the appointment.
More as we get it.
