Toys R Us to shut all stores leaving 3000 jobs lost


Meanwhile, Mothercare admitted it was in talks with its banks, shares in Carpetright hit an all-time low after it issued its third profit warning in just four months, House of Fraser and Debenhams have also been underperforming, and the Big 4 grocers announced fresh rounds of job cuts in January.

"We are grateful for the hard work of Toys'R'Us staff during this difficult period and will be providing support where we can to those who have been made redundant".

Seventy-five stores will be closed over the next six weeks, on top of the 25 outlets that have already closed or are about to shut under an earlier plan.

A woman said: 'So sad that my future kids won't get to experience the magic of Toys R Us like I did'.

Moorfields said at the time of the chain's collapse that it is making "every effort" to secure a buyer for all or part of the business.

But no suitor materialised in what is proving to be a awful time for high street retailers.

As reported by The Guardian, the decision comes after administrators failed to find a new buyer for the struggling chain, which a year ago voluntarily filed for bankruptcy protection in the us and Canada.

Other companies that have run into difficulties lately include Maplins, New Look, Jamie Oliver, Byron and Prezzo.

Performance was also said to have been dented by soaring inflation, falling consumer spending and competition from online rivals.

The closure sales will see the remaining Toys R Us stores reducing the cost of their stock prior to closing up shop. We'll keep you posted on any new details.

'Now is the time to check what redundancy rights you have and dig out any income or mortgage protection policies you hold. Those with gift cards they have yet to exchange will now no longer be able to do so after the deadline passed last weekend.

Toys "R" Us recently responded to those reports, though it didn't confirm or deny them outright.