Tough retail market in UK claims Toys R Us UK, Maplin

Toys R Us appears to have failed to find a buyer despite weeks of trying

Weak trading during the crucial Christmas shopping season thwarted the company's plans to restructure the business in the United Kingdom through store closures and rent cuts, as agreed in December with creditors, the person said.

Meanwhile Maplin, which has stores at Telford Bridge Retail Park and in Shrewsbury town centre, has called in PwC after attempts to rescue the chain failed. 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.

Toys R Us UK has appointed Moorfields Advisory to wind down the company while Maplin has asked PwC to oversee its administration.

Maplin employs 2,500 staff across its 200 stores in the United Kingdom, while Toys R Us employs 3000 staff in its 106 stores.

More than 100 retail jobs in Northern Ireland - thousands across the United Kingdom - are at risk as electrics firm Maplin and Toys R Us, which operate eight stores in total, go into administration.

Unfortunately Toys R Us has confirmed that it will no longer be accepting refunds or returns, however, it will be processing exchanges for those with proof of purchase. The retail chain's recent performance over the holidays made it unlikely that it will be able to pay off the debt.

Insurers cut credit cover previous year because of Maplin's falling profits.

Toys "R" Us' woes have been compounded by the struggles of electronics retailer Maplin, which also feel into administration this week.

Sky News reported that the chain which is owned by the private equity firm TPG Capital, was entering a Company Voluntary Arrangement to push through major reforms.

Toys R Us operate four stores Northern Ireland: Belfast city centre, Newtownabbey, Londonderry and Lisburn.

The company is one of the UK's largest toy retailers with 105 stores across the country.

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

The firm says gift cards and vouchers will continue to be honoured while the stores continue to trade, but customers are encouraged to redeem them as soon as possible as stores may be subject to closure without notice.

Can you still return items?

Shoppers who have ordered an item already on click-and-collect can still pick it up, but only if that item is still available in stock.

Costs have been rising for all retailers and consumer demand has been softening.

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