Jobs at risk for Toys R Us staff if store closures go ahead
PUBLISHED: 10:20 03 December 2017 | UPDATED: 10:20 03 December 2017
The threat of job losses has resurfaced for staff at Toys R Us following reports a quarter of its UK stores are set to close.
About 800 jobs are thought to be under threat at the toys and games retailer, which has a store in Ipswich.
The possible closure of 25 of its 110 stores is understood to be part of a Company Voluntary Arrangement (CVA) being drafted to renegotiate the US firm’s debts.
In September, the toy store chain filed for bankruptcy protection but said its 100 stores in the UK would be unaffected.
At the time, Dave Brandon, chairman and chief executive of Toys R Us, said: “We are confident that we are taking the right steps to ensure that the iconic Toys R Us and Babies R Us brands live on for many generations.”
He added: “As the holiday season approaches, our global team members are ready to serve the millions of kids and families who will be shopping with us.”