Toys R Us and Maplin collapse into administration

5300 jobs at risk as two big UK retailers collapse

Both companies have undergone dire straits due to underperforming retail sales and diminishing profits. The regional arm of the business has not secured a buyer and has fallen into this form of oversight as a way to protect its creditors. Moorfields said that the administration did not affect the global operations of Toys "R" Us outside the UK.

Toys "R" Us and electronics chain Maplin have collapsed in the United Kingdom, putting a combined 5,300 retail jobs at risk.

When a company enters into administration, it is protected from legal action by its creditors who, in turn, can not file a winding up petition against the insolvent company while it is in administration. Taylor Wessing is now advising Rutland, a long-standing client which it acted for in a number of deals past year, including the sale of Brandon Hire, the acquisition of Armitage Pet Care and an investment in Omar Group.

Before the United Kingdom part of Toys R Us went into administration, the company was planning to follow suit by closing at least 26 of their costliest stores by the spring of this year as well.

The group, owned by private equity firm Rutland Partners, called in PwC after attempts to rescue the chain failed.

Like Maplin, Toys R Us had struggled in the face of a weaker consumer environment.

"The very same feature that gave them a competitive edge in the beginning - low cost - is no longer sufficient to compete with leaner and more aggressive online retailers".

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Maplin employs just over 2,300 staff at more than 200 stores, selling electronics, tech toys and smart-home devices.

Following the failure to attract a buyer, the joint administrators say they are conducting an orderly wind-down of Toy R Us store portfolio. It has 217 stores across the United Kingdom and Ireland with head offices in London and Rotherham.

Thomas remarked: "We will make every effort to secure a buyer for all or part of the business".

Graham Harris, the company's chief executive, said: "During this process Maplin will continue to trade and remains open for business".

Can you still return items?

All outstanding "click and collect" orders placed online will be fulfilled, subject to stock continuing to be available.

Customers who have not settled their agreement and picked up their products need to visit their nearest store by Sunday March 11 to pay the balance or to buy goods in store that "exceed the value of the deposit". The winter season hasn't been kind to the world of retail as consumers and investors have seen.

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