Retailer to shut 26 stores to stave off administration

Toys R Us
Toys R Us has revealed it is to close two of its North West stores as part of a nationwide store closure plan that puts around 800 jobs at risk. The retailer wants support for a Company Voluntary Arrangement (CVA) that would see it shut around one-quarter of its shops - part of "essential changes" the company says it needs to make to the business. It estimates it would leave behind debts of £450m with unsecured creditors receiving just 1.2p for every pound owed if the company was to enter administration before Christmas. Ste... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...