Toys R Us UK 'to collapse into administration in days'

The directors of Toys R Us UK are preparing to appoint administrators for the ailing company early next week, national media reports say.

By The Newsroom

Published 24th Feb 2018, 09:55 BST

Updated 24th Feb 2018, 11:00 BST

Toys R Us UK was founded in America in 1948.

According to Sky News, the struggling business is likely to be declared insolvent on Tuesday morning - barring the emergence of a last-minute financial package to keep it afloat.

The firm's 3,200 workers face an uncertain future.

Toys R Us UK operates a store at Chesterfield's Spire Walk Retail Park

The company has been searching for a buyer for the last month after weak Christmas trading which has left it with little hope of paying a £15million VAT bill due on Tuesday.

In December, the business announced plans to shut 26 of its 105 UK outlets.

Chesterfield