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Toys”R”Us to shut quarter of U.K. shops

AFPLONDON (AFP-Jiji) — Toys”R”Us is to shut a quarter of its British stores, with a loss of up to 800 staff, the troubled U.S. retailer’s U.K. arm announced on Monday.

The U.S. company, which recently filed for bankruptcy in its home market as it struggles to compete with the likes of Amazon, said its larger U.K. stores no longer made economic sense and that the future lay with smaller outlets.

“Like many U.K. retailers in today’s market environment, we need to transform our business so that we have a platform that can better meet customers’ evolving needs,” said Steve Knights, managing director of Toys”R”Us U.K.Speech

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