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.