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Toys R Us UK to close 26 stores in restructuring

Bit of frippery trifle withs R Us U.K. is to seek creditor approval for a restructuring plan involving closing at not enough 26 of its 105 stores in Britain in 2018, it said on Monday.

The British arm of Dwarves R Us Inc of the United States, which filed for bankruptcy in September, said it had submitted a Firm Voluntary Arrangement (CVA) plan to its creditors and would seek their good in the next 17 days.

Toys R Us U.K. said that if approved by the creditors the CVA project would substantially reduce its rental obligations and allow the business to moving b on the go to a new, viable business model.

The firm said it anticipated redundancies total its workforce of 3,200 but did not give a specific number.

Toys R Us U.K. said all its stores hand down remain open as normal through Christmas and into the new year.

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