Some potentially sad news regarding Toys ‘R’ Us UK, we are hoping there’s a last minute reprieve for the chain and more importantly all their staff. This from the Financial Times….
The British arm of Toys R Us faces being plunged into administration within the next 48 hours, risking the loss of up to 3,200 jobs, after the UK’s pension lifeboat fund indicated that it would block a restructuring proposal for the ailing business.
On Tuesday, Toys R Us UK held crisis talks with the Pension Protection Fund (PPF), which is holding out for a £9m payment to approve a plan designed to save the retailer.
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