John Keeble via Getty Images Maplin's announcement puts 2,500 jobs at risk
Video game retailer and kiddywink favourite Toys R Us has gone in to administration in the United Kingdom with up to 3,000 jobs at risk. It failed to find a buyer for the business, which has about 105 stores in the United Kingdom and some 3,000 jobs are at risk.
An Irish Toys R Us franchise with outlets in Dublin and Limerick closed in 2016.
Toys R Us operates more than 100 stores in the United Kingdom and also trades as Babies R Us.
Joint administrator Thomas said: "We will make every effort to secure a buyer for all or part of the business". Gift cards and other discounts should also be used as quickly as possible. It has 217 stores across the United Kingdom and Ireland with head offices in London and Rotherham.
In September previous year, Toys R Us - which operates in over 300 countries - filed for bankruptcy protection in the US.
"Given the cash position of the company, the directors resolved to put Maplin into administration", it said.
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Toys R Us going into administration has been blamed on the failure to pay a £15 million Value-Added Tax bill and not finding a buyer before the payment deadline, but experts claim that the company's inability to compete with the likes of Amazon and supermarkets is the reason for its downfall. Across the board, including its headquarters and distribution, it employs about 3,200 staff across more than 100 stores.
At Maplin, talks with Edinburgh Woollen Mill (EWM), the high street empire owned by the tycoon Philip Day, are understood to have broken down following a disagreement on the ongoing involvement of Maplin's current owner.
"Our initial focus as administrators will be to engage with parties who may be interested in acquiring all or part of the company", said PwC partner Zelf Hussain.
CEO Graham Harris said the company struggled with "sterling devaluation post-Brexit, a weak consumer environment and the withdrawal of credit insurance", factors which made raising capital "impossible".
Gray said the Maplin business would continue to trade for a number of weeks in the hope of a sale, given the strength of Maplin's brand.
While it is generally acknowledged that fundamental changes in people's shopping habits have, more than anything, been the cause of the demise of the high street, online retail accounted for just 16.5% - less than a fifth - of all retail sales volumes in January.
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