Toys R Us to close all its stores after 70 years in business

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American toy and juvenile-products retailer, Toys R Us, is set to shut down all of its stores after having spent 70 years in the business. The decision has been taken after the retailer’s collapse into administration, which means approximately 3000 people are to lose their jobs as a result.

The administrators of the toy-selling company were called in towards the end of last month, however, the staff was told that no buyer had approached, which is why the stores are being closed.

The company, which is the biggest toy retailers and administrators, is said to start a six-week ‘winding down’ of its property. Even though they were trying to secure a buyer to run their business, no suitor has materialised, which eventually proved to be terrible for the business.