Toys R Us’ joint administrators Moorfields has announced that the retailer’s Coventry distribution centre is to close with 98 people being made redundant. All staff affected have been informed and will be paid up to and including their last day of employment.
Last week, 25 Toys R Us stores closed as part of the proposals put forward in the Company’s CVA, which was approved in December 2017. All the remaining 75 Toys R Us UK stores will remain open until further notice, but it is expected that they will close within the next five to six weeks.
“It is with great regret that we have made the difficult decision to make 98 people redundant at the Company’s Distribution Centre in Coventry," said Simon Thomas, joint administrator and partner at Moorfields.
“After it became clear that we would not be able to secure a buyer for the business, one of the major initial tasks was to transfer all of the remaining stock to the stores. With this now complete, we have been required to wind down operations at the Distribution Centre."
The nationwide stock discounting programme introduced after the Company entered administration continues with discounts now up to 40 per cent off, and huge savings on ‘Managers Specials’ across all stores, including the Cross Point Business Park store in Coventry and the Oakenshaw Road store in Solihull.
“We are grateful for the hard work of Toys “R” Us staff during this very difficult period," he continued. "We are working closely with employees affected by the closure of the Distribution Centre to ensure they receive the support they need to assist with their claims for redundancy and other compensatory payments.”