ToysRUs UK Files For Bankruptcy Protection

Posted: Mar 1 2018, 3:29am CST | by , in News | Toys

ToysRUs UK Files for Bankruptcy Protection

ToysRUs UK business is in administration.

The ToysRUs UK stores are in administration, the UK of filing for bankruptcy protection. The ramifications of the ToysRUs bankruptcy protection proceedings are more extreme than in the US. The ToysRUs online shop has been suspended. ToysRUs retail locations offer already clearance deals on their inventory.

Customers are urged to redeem their gift cards and shoppers who made a "Time to Pay agreement" and have not collected the goods, need to do so by March 11. ToysRUs tried to sell the UK business but failed to find a buyer. Now all stores are going to wind down. Interested parties can contact the administrators to purchase individual stores or assets.

ToysRUs closes every 5th store in the United States under the restructuring. ToysRUs UK is not the only retail casualty this week. Electronics chain Maplin also went into Administration. Maplin operates more than 200 stores and has 2,500 employees. The growth and competition of online shopping have likely led to the collapse.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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