Wednesday, February 28, 2018

Report: Toys ‘R’ Us U.K. collapses

Chain Store Age
Toys “R” Us’ U.K. division is “winding down” operations.

Toys “R” Us U.K. has entered into administration, the British equivalent of Chapter 11 bankruptcy protection. The company has moved into insolvency following its inability to pay a 15 million-pound ($21 million U.S. dollars) value-added-tax liability that was due this month, according to Bloomberg.

The decision threatens the survival of 300 stores, and nearly 5,500 workers.. . . more