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23rd Feb 2018

Toys R Us to go into administration next week with over 3,000 jobs at risk

No I'm not crying I've just got a Lego brick in my eye

Kyle Picknell

The toy shop has been in the UK since 1985.

Toys R Us is a very special place. It’s where I picked up my first Gameboy and therefore where my life changed forever.

We’ve all spent hours as a kid roaming up and down the aisles and violently tugging on the sleeves of our parents, reminding them that we had, in fact, been very well behaved recently. Would they cave?

Sometimes. But it didn’t really matter, the enjoyment was in the pure spectacle of the occasion itself; RC cars bigger than your own head, LEGO boxes shelved up as high as Everest and colour, sheer unadulterated colour,  overwhelming to the point of  distraction from the toys themselves.

It didn’t matter if you bought anything, it was fun just being there.

In heartbreaking news, however, the retail giant is set to move into administration next week due to a £15million VAT bill and almost 3,200 jobs are in danger. The UK branch is frantically trying to find a buyer as it has effectively no hope of paying the bill by the deadline on Tuesday.

Image credit Getty

Reportedly, Toys R Us have already lined up administrators to oversea the process with Moorfields, the recovery specialist who oversaw a similar procedure with now-defunct video chain Blockbuster, said to be on standby.

There were murmurings of a potential buyer, including rivals The Entertainer and Hilco Capital, who acquired HMV in 2013, but there appears to be little hope of any deal taking place with only three days remaining. It is rumoured that £120million is required, and potential buyers have been put off by the complexity of a potential deal.

Toys R Us has been part of British high streets since 1985, but has lost money each of the last seven years whilst the US parent company filed for bankruptcy in December.

Get out your Gameboys and pay your respects the right way, please.


Toys,Toys R Us