Date for closure of Toys R Us at Lakeside confirmed


Date for closure of Toys R Us at Lakeside confirmed

It has just over a month since Toys R' Us announced that it would be entering administration - sad news, yes, but with the added bonus that we could all avail of ludicrous discounts and relive our youth one last time at cut-price rates.

Toys "R" Us received interim approval of the incremental financing from the US Bankruptcy Court for the Eastern District of Virginia yesterday, and final approval by the court is scheduled for April 27.

Moorfields Advisory Limited, administrators for the company, has confirmed the branch in Ocean Retail Park will shut on Friday, April 20.

Kirkland & Ellis is serving as principal legal counsel to Toys "R" Us, while Alvarez & Marsal acts as restructuring advisor. "We are working closely with the 2,000 employees affected by the closures to ensure they receive the support they need for redundancy and other compensatory payments".

The Norwich store is closing the following day, April 24. Extended discounts of up to 70 per cent are in place from today and offers are available on some of our best-known brands.

Steve Roberts of Westwood was among the last to claim a bargain at the Toys R Us liquidation sale at 6251 Glenway Ave.

The toy retailer went in to administration in February with all of its 75 stores in the United Kingdom closing by the end of April.

Nationally, 3,000 jobs are set to be lost.