Stevenage Toys R Us to close doors next Thursday

Grant Boone
April 13, 2018

Discounts at Toys R Us have been extended after the closing date for the company's Portsmouth store was revealed.

"I am very disappointed with the result, but we no longer have the financial support to continue the company's USA operations", Dave Brandon, chairman and CEO of Toys R Us, said in a statement at the time.

The final Welsh store, at Parc Tawe in Swansea, will close its doors on 22nd April.

It will mark a sorry end to the long-running saga which began in December after tough trading conditions and a pensions black-hole left the chain on the brink.

But it proved only a temporary reprieve with reports of a £15m tax bill looming over the group which eventually saw it collapse into administration in February. In total, over 3,000 jobs will have been lost when the retailer closes.

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Maplin is also clearing stock, and administrators at PwC have been forced to make staff at the retailer's head office redundant.

Following a restructuring plan that failed and poor sales during the holiday shopping season in the USA, it was announced by the company in March that it would shutter its US and Puerto Rico stores.

25 chains of the store have already shut down, with the further 75 set to close in 12 days time.

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

Traditional brick and mortar retailers in both the US and the United Kingdom amongst other nations have faced mounting pressure because of the continued increase in shopping online by consumers.

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