800 Jobs at Risk as Toys R Us Closes Stores

Toys R Us has announced plans to close at least one third of its UK stores, putting up to 800 jobs at risk.

The retailer said it was working on a company voluntary agreement (CVA) which would allow it to shed 26 loss-making stores.

The company said the changes were necessary to "meet the evolving needs of customers in today's UK retail market."

It is understood that between 500 and 800 jobs could be lost, but the retailer has said that all efforts will be made to redeploy team members where possible. Toys R Us currently has 84 UK stores as well as 21 concessions, and employs a total of 3,200 people.

Steve Knight, managing director or Toys R Us UK, said the warehouse-style stores opened by the retailer in the 1980s and 1990s have proven "too big and expensive to run." He added that "newer, smaller, more interactive stores in the right shopping locations" were trading well. He continued:

"The decision to propose this CVA was a difficult one, but we determined it is the best path forward to make essential changes to the business."

If you need legal advice related to redundancy, either as an employer or an employee, our Wigan team are here to help. Speak to us on 01942 366 388.

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Employment Law