The news: Toys R Us has entered voluntary administration, appointing BDO Business Restructuring’s Luke Andrews and Duncan Clubb about five years after the brand was relaunched as an online store.
The context: Toys R Us had been pursuing a recapitalisation plan with the support of primary stakeholders, but the company told the exchange today that it “is no longer in a position to pursue a solvent recapitalisation plan”.
The administrators will take control of operations, which will remain business-as-usual where possible, and undertake an independent assessment of affairs. The first meeting of creditors will be held within eight business days.
The former multinational toy store chain shut down all 44 of its Australian stores after it…
