Banbury's Toys R Us announces closing date

Isaac Larian Will Make Bid on ToysRUs Canada and TRU Stores This Week

Isaac Larian Will Make Bid on ToysRUs Canada and TRU Stores This Week

Beleaguered retail chain Toys R Us negotiating to sell its 85 percent stake in its Asian business, including the Japan operations.

The remaining United Kingdom branches of Toys R Us are about to close forever, with the administrators giving the shop a final death day of April 24.

Kirkland & Ellis is serving as principal legal counsel to Toys "R" Us, while Alvarez & Marsal acts as restructuring advisor. The Stevenage site is to continue trading until next Thursday, April 19.

All 2,054 have been informed of the decision, and the administrators said they will be paid up until their last day of employment. The UK branch went into administration in February, putting 3,000 jobs at risk, with "an orderly wind-down" getting underway after the failure to find a buyer. Although the closing dates vary by store, the final day of trading will be Tuesday, April 24.

Further afield, Toys R Us is set to close in Bedford on Saturday, April 21, Milton Keynes and Harlow the next day, and in Luton and Enfield on Monday, April 23.

"I am very disappointed with the result, but we no longer have the financial support to continue the company's USA operations", Dave Brandon, chairman and CEO of Toys R Us, said in a statement at the time. "We are working closely with the 2,000 employees affected by the closures to ensure they receive the support they need for redundancy and other compensatory payments".

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