Toys R Us launches nationwide closing down sales in wake of collapse
Toys R Us has launched a nationwide closing down sale at all its stores across the UK in the wake of its collapse into administration.
At the same time administrators from Moorfields Advisory have warned that some of the 106 stores and concessions will start to close "in the coming days".
That will spark the start of redundancies among the failed toy store chain's 3,200-strong workforce.
Moorfields said it was "too early to say" when stores would start to close. "The administrators will manage the store trading strategy while also evaluating the options for the company’s future and determining how to obtain the best possible outcome. It remains to be decided if some or all the stores will be closed.
In the meantime all stores are trading normally and the closing down sale will see discounts of up to 25 per cent on products including all big brands. The aim will be to sell as much stock as possible as part of the administration process, which aims to repay Toys R Us's creditors.
Locally it has stores at the Merry Hill shopping centre, at the Birchley Island in Oldbury, Queens Retail Park in Stafford, Meole Brace Retail Park in Shrewsbury, St Andrews Retail Park in Birmingham, at Oakenshaw Road in Solihull and at Ventura Retail Park in Tamworth
The sales programme also includes the chain's Babies R Us outlets.
The administrators said: "Some stores in the portfolio may be subject to closure in the coming days, and so customers are encouraged to take advantage of the heavy discounting as soon as possible."
Simon Thomas, joint administrator and partner at Moorfields, said: “We’ve introduced heavy discounts across the entire Toys R Us store portfolio today. Customers are encouraged to take advantage of these special offers as soon as possible. Whilst stock levels are generally high, customers may find that the more popular brands begin to sell-out over the coming days.”
Gift cards and vouchers will be honoured whilst the stores continue to trade. In addition deposits paid by customers under Take Time To Pay Agreements towards larger purchases will be honoured provided that the outstanding balance is paid and the goods are collected by March 11. Alternatively, customers can use their deposits towards the cost of any in-store purchases provided that these are also completed by March 11.
The company is no longer accepting returns for refunds but, while stores remain open, it will exchange goods that are unopened, in a resalable condition and have a valid proof of purchase.
Moorfields says all outstanding “click and collect” orders placed online will be fulfilled in the ordinary course of business, subject to the stock continuing to be available, and advised they should be collected as soon as possible. But the online store itself ceased trading on Wednesday morning after the company went into administration.
Toys R Us was founded in the UK in 1985 with the opening of five stores and grew rapidly, specialising in huge out-of-town toy warehouse sites. But it has been losing money for years as it battled competition from online stores like Amazon. It came up with a new smaller store format but not in time to save the business.
Its bankrupt United States parent is already in the process of closing hundreds of stores across the US.