Toys R Us has gone into administration five years after the company was saved.
In a statement to the ASX the company said the business has been put into voluntary administration.
Toys R US ANZ has put Luke Andrews and Duncan Clubb from BDO Business Restructuring in charge of the restructure to the toy store.
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Toys R Us is now exclusively online. Facebook/ToysRUs
“As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders,” Toys R Us said in the ASX statement.
“However, the company is no longer in a position to pursue a solvent recapitalisation plan.
“In light of these events, the board has…