Toys R Us UK

Moorfields were appointed as Joint Administrators over Toys “R” Us UK, a major retail chain specialising in toys, games, and associated children’s products.

The UK operations had been struggling under debt burden, changing retail environments, and competitive pressures, facing structural challenges in sustaining profitability. The appointment aimed to manage an orderly process, protect value, and optimise outcomes for lenders and stakeholders.

Objectives

• Maintain continuity of trading (where viable) to protect value and stakeholder confidence.
• Safeguard jobs and customer commitments (e.g. gift card holders, orders) where possible.
• Realise maximum value from the retail estate, stock, fixtures, and brand / intellectual property.
• Manage communications with creditors, suppliers, landlords, and employees transparently.
• Deliver a structured exit, whether via sale of parts, wind-down, or restructuring.

Moorfields’ Actions

• Assumed control over the UK operations, including the store network, inventory, and trading arrangements.
• Conducted a full safeguard review of stock, leases, and store operations to identify viable trading outlets and realise excess inventory.
• Engaged specialist retail and insolvency agents to market the business units, brand, and assets.
• Negotiated with landlords, suppliers, and lenders to restructure lease liabilities, terminations, or strategic handovers.
• Managed customer-facing obligations such as gift cards, orders, warranties, and returns to maintain consumer trust.
• Coordinated the orderly shut-down or disposal of non-viable stores and assets.

Results

• Key stores continued trading for a period under their oversight, helping preserve value and goodwill.
• Significant parts of the retail estate, inventory, fit-out, and brand assets were successfully marketed and sold.
• Jobs, customer liabilities, and creditor recoveries were managed in a controlled and transparent manner.
• The assignment allowed the creditors to maximize recoveries within a challenging retail context.
• Moorfields demonstrated their capability to manage large-scale, consumer-facing administrations with complexity in store leases, brand assets, and supply chains.