Published: Fri, April 13, 2018
Finance | By Kristine Clayton

Last day of Toys "R" Us trading in Sunderland

Last day of Toys

The final trading date for Toys R Us UK stores will be April 24, with all locations closing by that day.

When the chain of large toy shops failed in February, Moorfields, the insolvency specialist, began selling off its stock.

Daily Star Online previously revealed heartbreaking pictures of some of the planned-to-close 26 Toys R Us stores looking empty and eerily quiet.

Stevenage's store, on the Roaring Meg Retail Park off London Road, started a closing-down sale early last month after the United Kingdom firm went into administration on February 28.

Toys "R" Us received interim approval of the incremental financing from the US Bankruptcy Court for the Eastern District of Virginia yesterday, and final approval by the court is scheduled for April 27.

"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.

Toys R Us appointed Moorfields to handle the administration when the company was unable to pay a £15m tax bill. "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". When any remaining bent-box Barbies will be binned and 2,000 staff lose their jobs.

Toy R Us was one of the most high-profile retail casualties in the first quarter of the year.

Meanwhile, New Look and Carpetright have both announced plans to shut stores as part of restructuring plans.

Bricks-and-mortar retailers in the USA and the United Kingdom, among other countries, have been facing mounting pressure from the continued rise of internet shopping.

Stevenage's Toys R Us is to close its doors next Thursday.

Discounts of up to 70% are now available at the remaining stores, with all bikes, auto seats, strollers and action figures now on offer at half-price.

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