ToysRUs Australia To Close All Stores

Australian news site reports that the Australian branch of ToysRUs will be closing all stores, putting upwards of 700 people out of work. All potential buyers for the 44 stores have withdrawn their offers. It's not exactly a surprise after the recent no-refunds cancellation of Masterpiece Shadow Panther preorders, but it's still a pity to lose another outlet for action figures. Keep reading for more details.

Toys R Us and Babies R Us stores around Australia will be shut down, putting 700 people out of work, after administrators failed to find a buyer for the failed business.

The chain of 44 toys and baby goods stores has been trading since entering voluntary administration in May but on Wednesday administrators McGrathNicol said all potential buyers had pulled out and the business will be wound down.

McGrathNicol said stock will now be liquidated through sales at existing stores before they, along with the head office and Sydney-based distribution centre close "in coming weeks".

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