Toys R Us has fallen into administration after private ­equity investors and restructuring specialists walked away Aaron Chown/PAIt was quickly dubbed “Black Wednesday” by retail industry watchers, as the failure of two household names yesterday triggered memories of the financial crisis ten years ago. First Toys R Us UK collapsed into administration, then Maplin, the electrical goods retailer, quickly followed suit, together putting about 5,500 jobs at risk. The chains, which first opened their doors in the 1980s and 1970s, respectively, were the latest casualties in a cut-throat retail fight, following the likes of BHS, Agent Provocateur and Warren Evans in recent years. But they were the first high-profile failures this year. The British division of Toys R Us — its American owner filed for bankruptcy protection last September — had managed to stave off administration in December after it struck an agreement with…

Source: The Times March 01, 2018 00:00 UTC