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Toys R Us store closures due 'in coming days' - administrators
04 March 2018, 01:57 | Lionel James
Toys R Us UK and Maplin enter into administration after failing to secure buyers
As of late a year ago, Toys'R'Us in the United Kingdom employed more than 3,000 staff across more than 100 mostly warehouse-style stores.
Store workers in Kent face an uncertain future, after toys giant Toys R Us crashed into administration.
Regarding Toys'R'Us, administrators Moorfields said: "Following the failure to attract a buyer for the business. administrators are conducting an orderly wind-down of the company's store portfolio".
Meanwhile, PWC, the administrators for Maplin, said that the electronic goods retailer will continue to "trade as normal while discussions take place with interested parties in an attempt to find a buyer".
Arron Kendall and Simon Thomas of Moorfields Advisory have been appointed joint administrators of Toys'R'Us.
"We are grateful for their commitment as the business continues to trade".
As a result, stores across the United Kingdom will be closing in the coming days but customers can still enjoy one last hurrah after the company announced it will be discounting stock and launching big promotions nationwide.
Over in the U.S., Toys R Us have been planning to close about 180 of their locations across the country in an attempt to restructure its costs and hopefully emerge from bankruptcy, as CNBC reported in January.
Rain, thunderstorms early Thursday
That being said, regardless of any severe weather threat, winds will be gusty all day long, exceeding 35 miles per hour at times. After the cold start, temperatures will slowly rebound into the mid 40s under sunny skies, average for this time of year.
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