All Scots Toys R Us stores to close down within weeks

ToysR-Us

Every one of the 100 Toys R Us stores throughout the United Kingdom will be closed causing around 3000 job losses.

"The closure program for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow", it said in a statement.

Administrators were called in at the end of February, but staff were told that no buyer had come forward and that all stores will close.

The chain was plunged into liquidation in January after failing to pay a £15million Value-Added Tax bill and it put jobs across the country at risk.

Moorfields, the company who worked alongside Blockbuster when the video rental chain went into administration, has been tasked with working alongside Toys R Us through its insolvency.

The toy company, which has 11 stores in Scotland, will start the redundancy process on Wednesday.

But no suitor materialised in what is proving to be a bad time for high street retailers.

The closure of Toys R Us marks the end of an era.

From a retailer's perspective, not only is it sad to see a high street institution face the harsh reality of an online world, but those with outstanding gift cards will also be left empty-handed.

Toys R Us is one of the nation's biggest toy retailers, employing more than 3,000 across 100 stores in the UK. Those sales were extended on Tuesday and products are being offered at discounts of as much as 30pc. The company said some buyers were interested in purchasing Toys "R" Us, but the company didn't receive any formal bids.

Compounding the retail sector's pain are the painful restructurings of high street eateries Byron, Prezzo and Jamie Oliver's casual dining chain, as well as rising business rates bills. Download it today and continue to enjoy STV News wherever you are.

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