Toys R Us stores reach close of play

Toys R Us will shut its final stores in just under two weeks, resulting in the loss of more than 2,000 jobs, its administrators have confirmed. When the chain of large toy shops failed in February, Moorfields, the insolvency specialist, began selling off its stock. Moorfields said yesterday that all Toys R Us’s remaining 75 stores will close on April 24, with 2,054 employees set to be made redundant. It was one of the most high-profile retail casualties in the first quarter of the year owing to rising costs, online competition and fragile consumer confidence. The Independent reports that Toys R Us has received several $1bn (£706m) bids for a majority stake in its Asia arm, a lawyer for the company said. The US company plans to sell some of its global operations after collapsing in September due to piling debt and strong competition from discount online retailers. Click here for the full Times article (£) Click here for the full Independent article