Toys R Us is expected to tumble into administration next week after last ditch talks to find a buyer faltered.
The move will put 3,200 jobs at risk and follows the recent decision by its bankrupt American parent to try to sell the loss-making UK business as well its other European stores.
Members of the Toys R Us management team met with officials from the Pension Protection Fund (PPF) on Friday to notify them of the development. The troubled retailer had been trying to drum up a buyer before the end of the month when several payments, including a £15m VAT bill, fall due.
The company is expected to appoint restructuring firm Moorf…
Read the full article at: https://www.theguardian.com/business/2018/feb/23/toys-r-us-faces-bankruptcy-putting-3200-jobs-at-risk