Retailer to shut 26 stores to stave off administration
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.
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