- The administrators of Toys ‘R’ Us have announced a closing-down sale with up to 30% discounts across all 44 Australian stores.
- It follows the announcement of store closures yesterday, after a deal to combine Toys ‘R’ Us Australia with operations in Asia fell apart.
The Australian operations of Toys ‘R’ Us will soon be no longer, but shoppers will be given the chance to snap up a bargain over the next few weeks.
McGrath Nicol, the company’s appointed administrators, have announced a closing down sale which commences today across all 44 Toys ‘R’ Us stores in Australia.
Customers will received discounts of up to 30% on all stock items in stores.
It follows the announcement yesterday that McGrath Nicol will proceed with a wind-up of the business, after attempts to merge the company with its Asian operations and on-sell the combined business were unsuccessful.
The company initially went into administration in May, after another deal to sell the company fell apart.
“The Administrators have determined that everything in the stores, including well-known brand items, must be sold and have appointed Hilco Merchant Australia to assist with the closing-down sale,” McGrath Nicol said.
“The sale will provide loyal customers the opportunity to purchase their favorite products at significantly lower prices. Due to these substantial reductions, we encourage consumers to shop early to take advantage of the best selection of products available while supplies last.”
McGrath Nicol said gift cards, lay-by deals and VIP discounts will be honoured until Thursday, 5 July.
In March, the US operation of Toys ‘R’ Us announced it would be closing all 735 of its stores in the US. 75 stores in the UK have also been closed.
The plight of Toys ‘R’ Us is one of the clearest examples of a company that has failed to keep up with the changing retail landscape, with high price competition and the addition of new players such as Amazon.
Amazon made its intentions clear this week in Australia when it announced the introduction of a discounted version of its Prime service as it ramps up efforts to build market share.
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