Following on from last weeks report that time was running out for the troubled retailer, the latest report from Toyworld suggests that the end of the road is near as they are failing to find a buyer in time to pay a £15 million VAT bill due on Tuesday.
Toyworld report:
Toys R Us UK has been engaged in a search for a buyer for the last month following weak Christmas trading which has left it with little hope of paying a £15m VAT bill due on Tuesday.
Sources said that the directors of the UK’s biggest toy retailer were likely to appoint administrators on Tuesday morning barring the emergence of a last-minute financial package to keep it afloat.
You can read the full article here but it looks like its crunch time for the retailer and the next few days will be critical.