What is an Administration?
An Administration is a UK insolvency procedure designed to protect a company whilst the Administrators
try to rescue it through a sale and if that is not possible, by realising the assets of the company for the
benefit of the creditors.
Only Licensed Insolvency Practitioners can be appointed as the Administrator(s) to manage the company’s
affairs during an Administration.
How is this different to the CVA and what happens to the CVA?
The conditions of the CVA are immediately terminated upon the company entering Administration.
An Administration process is different to the CVA. In the CVA, the company remained under the control
of the UK directors. However, during an Administration, the Administrators take control and manage the
day to day affairs of the business, while evaluating their options regarding the company’s future and
determining how to obtain the best possible outcome for all creditors.
Is the business still trading?
The company will continue to trade, under the control of the Administrators, whilst the Administrators
evaluate their options regarding the company’s future and determine how to obtain the best possible
outcome for all creditors.
Which stores are remaining open and for how long?
25 stores are due to close as a result of the CVA process which occurred in December 2017. These stores are due to close on the timeline below:
Wednesday 7th March - Hayes and Basingstoke
Thursday 8th March - Tunbridge Well, Scunthorpe, Old Kent Road and Exeter
Friday 9th March - Plymouth and Tamworth
Saturday 10th March - Doncaster, Leicester, Watford and Cambridge
Sunday 11th March - East Kilbride and Birmingham
Monday 12th March - Shrewsbury, York, Derry City and Kirkcaldy
Tuesday 13th March - Brislington, Belfast and Livingston
Wednesday 14th March - Aberdeen
Thursday 15th March - Cardiff, Bradford and Bolton
Please note that these dates may be subject to change.
Since the Administration of Toys R Us UK was announced on the 28th February 2018, no further stores have been closed by the Administrators and all other stores are currently open for trading. The Administrators will manage the store trading strategy whilst also evaluating the options regarding the company's future and determining how to obtain the best possible outcome for all creditors. It remains to be decided if some or all the stores will be closed.
I have a claim against the company. How do I submit my claim?
The Administrators will write to all known creditors of the company and invite them to provide details of
what they are owed. Routinely claims will not be acknowledged at this stage in the proceedings, but
further information will be provided in due course as to the prospects of receiving any payment in respect
of such claims.