It’s a sad day for UK retail as Toys ‘R’ Us goes into administration (according to Sky News). With 3,200 people potentially losing their jobs at the toy retailer it will hit the pockets of many families around the country. Stores will continue to trade for the moment.
Retailer Toys R Us UK has fallen into administration putting 3,200 jobs at risk
— Sky News Newsdesk (@SkyNewsBreak) February 28, 2018
We have been proud to work with Toys ‘R’ Us since our inception and have shared numerous events with them including numerous Midnight Madness openings, and the Black Series launch with Hasbro in 2013, as part of Caravan of the Force (heading on our drive from the UK to Essen for Star Wars Celebration Europe with Jeremy Bulloch). In fact Jeremy was also present at the Summer Madness event at their Brent Cross store in 2010 that we helped organise too.
We wish our many friends at head office and in the branches good luck. This may not be the end as the administrator might try and keep some of the stores running as a going concern — here’s hoping — more as we get it.
Update at 10:08 from Evening Standard: –
Administrator Moorfields has been appointed to conduct what it called an orderly wind-down of the company’s store portfolio, although the firm insisted it is still seeking a buyer.
All stores will continue trading until further notice and much of the stock will be subject to clearance discounts.
Simon Thomas, Moorfields partner, said: “We will be conducting an orderly wind-down of the store portfolio over the coming weeks. All stores remain open until further notice and stock will be subject to clearance and special promotions.”
He added: “We will make every effort to secure a buyer for all or part of the business.”
Gift cards and vouchers will be honoured while the stores continue to trade, but customers are being encouraged to redeem them as soon as possible as stores may be subject to closure without notice. No further gift cards will be sold from today.
