All Toys R Us stores to close their doors

Closing down signs are seen outside the Toys R Us store in Coventry Britain

Toys R Us faces a £15 million tax bill that it has been unable to pay, with the company's U.S. parent company also said to be nearing collapse, potentially shutting down 800 stores in the United States this month.

All Toys R Us stores in the United Kingdom will close in the next six weeks following the chain's collapse into administration.

Simon Thomas, joint administrator and partner at Moorfields, said: "We have made every effort to secure a buyer for all or part of the company's business".

Toys R Us previously stated that all purchased gift cards would be honored until Sunday, March 11, and the retailer has stood by this statement.

It appointed Moorfields Advisory to oversee an administration at the end of February after the firm failed to find a last-minute rescuer.

The six week deadline for closures is expected to happen to Maplin as well if a buyer isn't identified to save the electronics store.

Toys "R" Us made dozens of redundancies at their head office in Maidenhead today.

"We are grateful for the hard work of Toys'R'Us staff during this difficult period and will be providing support where we can to those who have been made redundant".

Other companies that have run into difficulties lately include Maplins, New Look, Jamie Oliver, Byron and Prezzo.

Mr Thomas added: "All of the remaining 75 Toys R Us and Babies R Us stores will remain open until further notice".

Toys R Us has extended its nationwide discounting programme to encourage customers to take advantage of special offers available in store as part of the wind-up process.

'It's a sad end to an era, but not surprising news because we know they've have been struggling to find a buyer.

Toys "R" Us recently responded to those reports, though it didn't confirm or deny them outright.



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