Toys R Not Selling So Well
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Toys R Us has confirmed plans to shut ‘at least’ 26 of its stores in the UK, which could see up to 800 jobs put at risk. It is no secret that the store has been having trouble after a report came out earlier this year that the company had filed for bankruptcy.
Managing director Steve Knights said that their ‘warehouse style sores’, many of which opened in the 1980s and 90s, had become ‘too big and expensive to run in the current retail environment’. Toys R Us currently has 106 stores in the UK, on such warehouse store is in Gateshead, next to the Intu Metrocentre.
It was a difficult decision, however, of the 800 jobs at risk, it said they would try to redeploy as many of the staff who were affected by the closures. Toys R Us said that online shopping would be unaffected by the plans for closure and there would be no changes to its return policies or gift card usage over the festive period.
Mr Knight said the company needed to take ‘strong and decisive action’ to try and save the business.
It is a shame to bear such bad news near Christmas, but with online shopping on the rise, it’s no surprise that the toy giant is losing its grip. Why go to a store when you can get what you want far cheaper and far more conveniently at home?
Let’s just hope they save as many jobs as they can.