Toys 'R' Us Australia goes into voluntary administration
Toys 'R' Us Australia has gone into voluntary administration just months after the US and British chains collapsed.
The stores will remain open and continue to trade while the administrators explore options to sell.
Toys ‘R’ Us filed for bankruptcy protection in the US last September and after frantic attempts to restructure the business finally shut down in March when chief executive David Brandon told employees the retailer’s more than 700 remaining US locations would go along with 33,000 jobs.
Shortly after, the UK and Irish stores shut down.
The Australian chain operates 44 retail stores across Australia and employs about 700 permanent staff.
A company spokesperson said that no employee positions are affected.
This article originally appeared on New Idea.
