Toys’R’Us ANZ Limited (ASX: TOY) has appointed Luke Andrews and Duncan Clubb of BDO Business Restructuring Pty Ltd as Voluntary Administrators, effective immediately. This decision comes after the company concluded that it could no longer pursue a solvent recapitalization plan, despite previous efforts and stakeholder support. The Board determined that the company is either insolvent or likely to become so, making administration the most prudent course of action.
The Administrators will assume control of operations to conduct an independent assessment. Toys’R’Us ANZ will aim to continue operating on a ‘business as usual’ basis while the administrators evaluate restructuring or sale options. Key stakeholders have…
