Toys R Us, which has 100 stores and outlets in the UK, has put forward a company voluntary arrangement (CVA), which is a step short of going into administration.
Under its CVA plans, Toys R Us is proposing to close at least 26 loss-making UK stores, which would put up to 800 jobs at risk and mean rent cuts for landlords.
The company says that their warehouse-style stores are now “too big and expensive to run”. It is also finding it hard to compete against online toy retailers.
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