Toys R Us has entered voluntary administration in Australia for the second time in five years. The ASX-listed company made the announcement in a formal statement lodged with the Australian Securities Exchange.
The company confirmed it has appointed administrators to restructure its operations. The administrators, Luke Andrews and Duncan Clubb from BDO Business Restructuring, have taken control of the business.
Toys R Us said, “As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders. However, the company is no longer in a position to pursue a solvent recapitalisation plan.”
