All Toys "R" Us shops to shut in Britain

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Poor Christmas trading combined with a large tax bill finally forced the European arm of the business over the edge last month - the same day electronics retailer Maplin also called in administrators.

The company, which filed for bankruptcy in the United States previous year, said it would close its remaining 75 stores in Britain in addition to the 25 it has already shut.

Recent reports indicate the USA division of Toys "R" Us could face similar closures and has already shut down stores in two waves.

Stores that were already earmarked for closure will shut their doors by tomorrow if they haven't already.

"The closure programme for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow".

You've probably been to a Toys R Us at some point in your life. Any remaining stock will be discounted in the remaining stores that are open, so it may be worth visiting one of the outlets if you live nearby.

"If you are still waiting for your delivery today (14th March) then you need to log your order as missing".

The company broke the news to staff yesterday, before letting go of all 67 employees at its head office in Maidenhead.

The retailer is no longer accepting gift cards, and as the Time 2 Pay scheme deadline has also passed it is unclear what will happen with those customers.

"This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline", joint administrator Simon Thomas, a partner at corporate advisory and restructuring firm Moorfields said in a statement.

"It is with great regret that we have made the hard decision to make a number of positions redundant at the company's head office in Maidenhead and proceed with a controlled store closure program", he commented.