Is This The End Of Toys 'R Us In Australia?
Just months after Toys 'R' Us in the US and UK retail collapsed, now the Australian branch has gone into voluntary administration.
Directors of the company resolved to appoint voluntary administrators after the the final bidder for the sale of the Australian business pulles out.
At the moment all Toys R Us and Babies 'R' Us stores are still open while the administrators look for another buyer.
There are 44 Toys 'R' Us stores across Australia and employs around 700 permanent staff.
Toys ‘R’ Us Australia have announced they will no longer offer refunds, and all gift cards and vouchers will only be honoured if customers spent an additional equivalent amount.
Online orders and lay-bys will be delivered or honoured where goods had been paid for in full and the stock was available.
A statement read: 'The administrators will continue to pay employees and expect that employee entitlements will be met either through a sale of the business, recoveries from the sale of stock, or through the Commonwealth Government's Fair Entitlements Guarantee (FEG) Scheme,'
Toys R Us - Babies R Us - Final GOING OUT OF BUSINESS SALE - SAVE NOW ON ALL THE BRANDS YOU LOVE BEFORE EVERYTHING IS GONE AND ALL THE STORES ARE CLOSED! #toysrusclosingsale #toysrusclosing #toysrus #babiesrus pic.twitter.com/WZX8gKojek— ToysRUs (@ToysRUs) May 21, 2018
Earlier this month, Toys 'R' Us announced that it was auctioning its mascot, Geoffrey the Giraffe as well as the Babies R Us trademark to help repay its creditors.