Toys R Us has launched its closing down sale, with discounts of up to 25 percent across its toy range.
After entering administration this week, store closures will commence this week putting over 3,000 jobs at risk.
“Customers are encouraged to take advantage of these special offers as soon as possible. While stock levels are generally high, customers may find that the more popular brands begin to sell out over the coming days,” said Simon Thomas, a joint administrator.
Larger brands such as Lego are not likely to be included in sales. They removed stock from shelves to avoid the discounting.
The group’s American parent company filed for bankruptcy protection back in September after running up high debts.
Closures of the UK stores will put over 3,000 jobs at risk.
“Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided. We have informed employees about the process this morning and will continue to keep them updated on developments,” said Thomas.
“All stores remain open until further notice and stock will be subject to clearance and special promotions.”
The toy retailer failed due to a variety of reasons. Retail analyst Kate Hardcastle from Insight With Passion said that our consumer tastes are changing and children today expect electronic presents or experiences – something the retailer did not keep up with.
“An eight-year-old now, they can download an app in 30 seconds to distort their face and make them look like Spiderman. Retail almost can’t keep up,” she said.
“That wasn’t something Toys R Us was able to get into very successfully. They did it in a generic way… it was just another aisle.”
The group has filed for administration after making losses for seven of the previous eight years.