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Toys R Us Australia to close down after failure to find buyer

Toys R Us and Babies R Us stores across Australia will be shut down after the company’s local administrators said they were unable to find a buyer for the brand.

The Australian arm of the US chain has 44 stores across the country and employs around 700 people.

The closures follow the collapse of the Toys R Us brand in the US and in the UK and arrive as brick and mortar stores continue to battle with online retail sites in Australia.

Retailers in the territory have also been battling against larger domestic supermarket-style retailers, including K-Mart and Big W that sell a mixed range of products for children and adults.

Here in the UK, Toys R Us went into administration in February, with the last stores closed in April. In the US, Toys r Us first sought bankruptcy protection in September last year, but by May it announced it would close or sell its 885 stores after failing to find a buyer for the business.

In Australia, stores ‘will close progressively in the coming weeks,’ said the firm in a statement.

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