Toys R Us Shutting Its Doors In August
Toys R Us will be shutting the last of its retail stores in early August following the company’s voluntary administration in May.
The final store will be shut in the first weekend of August.
According to administrator McGrathNicol the liquidation of stock has been accelerated and will discount heavily over a final 10-day sale.
Toys R Us will also be selling off its store fixtures and fittings.
The toy retailer went into administration in May after the sale of the company fell through following the withdrawal of the final bidder. The Australian arm followed suit from its UK and US counterparts who also went under.
Toys R Us demise is a reflection of more and more consumers heading to online sites like eBay and Amazon to source their goods.
Close to 700 full-time workers in Australia would have lost their jobs after the closing of the last store.