Toys "R" Us said on Wednesday that it would close all of its stores in Britain after failing to find a buyer, another ominous sign for a once-dominant toy retailer that has struggled under pressure from Amazon and other online sellers.
Corporate company Moorfields, who worked on video rental chain Blockbuster five years ago, has been appointed as joint administrators to overlook Toys R Us' insolvency.
The American company that owns Toys R Us have been trying to find a buyer for the United Kingdom stores.
But they said: "While this process has generated some interest, unfortunately it has not been possible to secure a sale".
In addition to selling toys and stationary, Toys "R" Us was also a pretty prominent games retailer back in the day, with this particular author getting his first taste of the PlayStation 2 in Birmingham's big megastore nearly two decades ago.More news: Wenger: 'Lacazette out for Milan'
In Britain, the administrators had been trying to sell parts of the business.
The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin.
"The closure program for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow", the company said in a statement.
"This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline".
"If you are still waiting for your delivery today (14th March) then you need to log your order as missing".More news: Jose Mourinho Has 'No Regrets' After Manchester United's UCL Defeat to Sevilla
"It is therefore with great regret that we have made the hard decision to make a number of positions redundant at the company's head office in Maidenhead and proceed with a controlled store closure programme".
"It's distressing news for employees of Toys "R" Us and their families, especially because their fates have been uncertain for so long".
He also said the company would support all the staff made redundant as a result of the decision to shut down operations.
The company has been dealing with financial difficulties and poor sales for some months.
The Hove branch of Toys R Us is expected to close within six weeks although no date has been publicly announced.More news: New Splinter Cell Game Spotted on Amazon Ahead of Announcement
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