Toy retailer Toys R US has announced that it will be shutting down all of its US and UK stores. The company recently went into administration in The UK. The company previously filed for Bankruptcy in the US around six month ago.
All of its 900 stores in the US and UK will be shut down, the company may also liquidate its store in Span, France, Poland and Australia. The comany is looking to sell off some of its other operations in other countries.
Dave Brandon, Chairman and Chief Executive Officer, said, “I am very disappointed with the result, but we no longer have the financial support to continue the Company’s U.S. operations. We are therefore implementing an orderly process to shutter our U.S. operations and will pursue going concern sales or reorganizations of certain of our international businesses, while our other international businesses consider their options.”
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