Maplin and Toys R Us go under

Electronics store chain Maplin and the UK operations of Toys R Us have both gone into administration today.

The administrators of Maplin, PWC have said the company will continue to “trade as normal while discussions take place with interested parties in an attempt to find a buyer”.

Nationally, Maplin employ 2,335 members of staff and has a turnover of £235.8 million. It has 217 stores around the UK and Ireland, and head offices in Rotherham and London.

Marlin hasn’t gone under due to the lack of an effective online presence as may well have happened with Toys R Us. It had an extensive online and mail order business.

Joint administrator Zelf Hussain said: “The challenging conditions in the UK retail sector are well documented. Like many other retailers, Maplin has been hit hard by a slowdown in consumer spending and more expensive imports as the pound has weakened.

“Staff have been paid their February wages and will continue to be paid for future work while the company is in administration.”

Meanwhile the administrators of Toys R Us have said that all 105 of its stores will remain open until further notice, adding “whether some or all of the stores will close remains to be decided”.

Joint administrator Thomas said: “We will make every effort to secure a buyer for all or part of the business.

“The newer, smaller, more interactive stores in the portfolio have been outperforming the older warehouse-style stores that were opened in the 1980s and 1990s.”

The firm employs around 3,000 staff in the UK.

The Toys R Us online operation is to close immediately, and all goods will now only be sold through the stores that remain open.