2300 jobs at risk as Maplin goes into administration

5300 jobs at risk as two big UK retailers collapse

Toys R Us UK and Maplin enter into administration after failing to secure buyers

Thousands of jobs are set to be axed nationwide across both Toys R Us and Maplin in what was a bleak morning for retail.

Toys R Us - which has stores at Broughton Retail Park and at Chester's Greyhound Retail Park - is one of the nation's biggest toy retailers, with more than 100 stores in the United Kingdom and 1,500 in 33 countries across the globe.

Maplin has annual turnover of £235.8m and employs 2,335 people across 217 stores in the United Kingdom and Ireland.

The 40-year-old firm said it had been hit by the impact of the Brexit-hit pound, a "weak consumer environment" and the withdrawal of credit insurance.

Toys R Us - which is one of the nation's biggest toy retailers - has more than 100 stores in the United Kingdom and 1,500 in 33 countries across the globe.

Toys R Us is likely to go into administration as the talks with buyer have failed.

"We will make every effort to secure a buyer for all or part of the business", said joint administrator Simon Thomas.

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In a major blow to the retail industry, Toys R Us UK and Maplin have fallen into administration, collectively putting 5,500 jobs at risk.

The electronics chain has 2,500 United Kingdom staff across 200 stores, which will remain open for the time being.

This latest blow follows a wave of closures all over the USA as the toy giant, a staple of American family life since its founding in 1948, fails to hold its ground against online shopping platforms.

Toys R Us is struggling internationally, except in Asia.

PwC is still trying to find a buyer for the electronics company and Graham Harris, the company's CEO, confirmed that a sale had not been successful. "We are grateful for their commitment as the business continues to trade".

Corporate recovery company Moorfields is expected to have been put on standby to oversee Toys R Us' administration.

In contrast, Galway-headquartered Smyths Toys has enjoyed strong growth in the United Kingdom in recent years, with sales climbing by 19pc from £334m to £396.49m (€447m) in 2016 on the back of new store openings and online sales.

The chain has previously admitted its 1980s-style warehouse stores had become exhausted, expensive and suffered particularly from online competition. Most toys are now bought in supermarkets, apparently, or online. It came up with a new smaller store format but not in time to save the business.

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