Portsmouth Toys R Us set to close within six weeks

TOYS R Us is expected to shut all 100 of its stores in the next six weeks including the shop in Ocean Retail Park in Portsmouth.

Wednesday, 14th March 2018, 11:50 am
Updated Wednesday, 14th March 2018, 12:55 pm
Toys R Us

Administrators failed to find a buyer for the collapsed retailer, resulting in the loss of 3,000 jobs.

The toy chain appointed Moorfields Advisory to oversee an administration at the end of February.

It is thought that Moorfields will now begin a six-week ‘wind down’ of the store estate.

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Moorfields will begin with the closure of at least 26 loss-making stores earmarked late last year, when Toys R Us pushed through a restructuring before its demise.

An official announcement is expected later on Wednesday.

Moorfields said at the time of the chain’s collapse that it is making ‘every effort’ to secure a buyer for all or part of the business, but no suitor materialised in what is proving to be a dire time for high street retailers.

The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin and a host of firms undergoing painful restructurings, including New Look and eateries run by celebrity chef Jamie Oliver, as well as Byron and Prezzo.