Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retailer Toys R Us has announced that it is to close its 100 UK shops, resulting in the loss of 3,000 jobs. The shop, which sells games and toys for children, had entered administration at the end of February and there were hopes that a buyer could be found. However, this latest announcement confirms that no buyer has been identified and the outlets will close. The first 25 stores are set to close the day after the announcement, with 541 job losses, and the remaining 75 stores will close over approximately a six week period. In addition to the job losses at the stores, 67 jobs will be lost when the head office in Maidenhead closes.
In December 2017, the British branch of Toys R Us announced an internal restructuring that would cut 800 jobs. However, the UK branch has entered administration recently due to the absence of a buyer.
UPDATE 12/04/2018: It has been confirmed that the remaining 75 Toys R Us stores will close on the 24th April 2018, with the loss of 2,054 jobs.
Eurofound (2018), Toys R Us, Bankruptcy in United Kingdom, factsheet number 93744, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93744.