The future of Toys R Us in the UK has once again been cast into doubt as its US parent company is reportedly seeking a buyer.
The toy retailer’s ailing owner has commenced an urgent search for a buyer amid suggestions that poor Christmas trading has left the British business facing a cashflow issue, Sky News reported.
It comes just weeks after Toys R Us creditors voted in favour of a radical rescue plan involving closing a quarter of its UK stores.
Advisers at Alvarez & Marsal and Lazard, the companies overseeing the toy retailer’s bankruptcy proceedings in the US, are understood to be looking for potential buyers.
The sale is expected to be completed within weeks.
It was believed the UK company, which employs around 2,400 people, was on firmer footing after its company voluntary agreement (CVA) was approved in December and Toys R Us set about closing 26 unprofitable stores and shedding around 500 jobs.