We used to make the annual trek to Toys R Us every Christmas when my lad was a nipper (many moons ago) and as it was 100+ miles away we used to make a day of it also visiting other stores on the big industrial estate, i guess the internet has killed it as it has so many other businesses.
The directors of Toys R Us's British chain are preparing to appoint administrators early next week in a move that will threaten more than 3,000 jobs on an already-troubled high street.
Sky News has learnt that bosses from the ailing chain met officials from the Pension Protection Fund (PPF) on Friday to notify them of the impending move amid fading hopes of a rescue deal.
Toys R Us UK has been engaged in a frantic search for a buyer for the last month following weak Christmas trading which has left it with little hope of paying a £15m VAT bill due on Tuesday.
Sources said that the directors of the UK's biggest toy retailer were likely to appoint administrators on Tuesday morning barring the emergence of a last-minute financial package to keep it afloat.
One insider said that such a prospect was "very, very remote" on Friday evening.
Moorfields, a corporate recovery specialist which worked on the administration of the DVD rental chain Blockbuster five years ago, is said to have been put on standby to oversee Toys R Us's potential insolvency.
With only three days before the VAT bill is understood to be payable, hopes of finding a rescue backer for the chain, which trades from more than 100 stores, have dwindled.
Alteri Investors, an acquirer of distressed retailers, and Hilco Capital, which salvaged the music chain HMV in 2013, have both held talks with Toys R Us UK in the last fortnight but have baulked at the complexity of a deal.
Read in full - https://news.sky.com/story/3200-jobs-at-risk-as-toys-r-us-uk-lines-up-administrator-11264021
