Toys R Us up for sale as fears kids' giant could go under

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Toys R Us up for sale as fears kids' giant could go under

TOYS R Us will go on sale as struggling kids mega store battles for survival.

The once-popular chain is hoping more than 3,000 jobs can be saved, with bosses keen for a stay of execution later this month.

In December, Toys R Us went bankrupt just days before Christmas.

To stop massive losses, 26 shops were closed and landlords accepted less rent for outlets that remained open.

Company bosses also agreed to pump more than £9 million into its pension fund in the next two years.

It made a !1m lump payment in January, but another cash injection of the same amount is due in April.

But, advisers have suggested the business sell its British stores along with all others across Europe.

The toys-retail giant employee 3,200 people in the UK and has been running a loss for seven years.

It emerged HMV owner, Hilco Capital, is one of several bidders who are interested in saving the struggling company.

If a deal cannot be reached, however, it would mean the brand – that has been in the UK since 1985 – would disappear.

The retailer fell into trouble when it was slow total on digital retails, including Amazon.

It continued to fall behind its rivals as shoppers opted to buy toys and other items online.

Daily Star Sunday