Jobs at risk as Toys R Us goes into administration

Jobs in Lincoln are at risk as toy retailer Toys R Us UK has announced today it has gone into administration.

Toys R Us, which employs more than 3,000 people across the UK, appointed administrators on Wednesday. February 28 to begin an ‘orderly wind-down’ as it has been unable to find a new buyer for the firm.

The firm has been facing a £15 million tax bill, which was due to be paid this week, however, poor sales through the Christmas period have made it unlikely that it can make the payment.

It was announced in December 2017 that the Scunthorpe store would close later this year due to it being ‘too expensive to run’.

Now, all 105 Toys R Us stores are at risk, with the Lincoln Store on St Marks included.

Administrators have confirmed that all stores will however remain open until further notice.

Administrator Simon Thomas from Moorfields, said: “Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided.

“We have informed employees about the process this morning and will continue to keep them updated on developments.

“We are grateful for the commitment and hard work of employees as the business continues to trade.”