News channels are reporting that both Toys R Us and Maplin have both entered on administration today putting more than 5,000 jobs at risk.
Administrator, Moorfields, is managing the wind down of Toys R Us and is still hoping to find a buyer for parts of the business, while PwC is overseeing Maplin. The toy store, whose US counter part had already entered administration, mostly runs large out-of-town stores and has struggled to keep pace with shifts in shopping habits as Britons increasingly buy toys online or in supermarket aisles.
Maplin has also reported it has gone into administration following failed talks with Phillip Day, who owns businesses such as Peacocks and the Edinburgh Woollen Mill. It has been reported that Maplin has 200 stores across the UK.