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. Founded in the US, it opened its first shop in Britain in 1985 and became one of the country’s largest sellers of toys.

Source: The Times April 12, 2018 23:03 UTC