Toys R Us Announce Massive Closing-Down Sale
An early start to Christmas shopping might be on the cards as beleaguered toy giant Toys ‘R’ Us announced a massive closing-down sale.
The sale comes a day after confirming 44 Australian stores would be closed following crippling losses and failing to find a new owner.
“The Administrators have determined that everything in the stores, including well-known brand items, must be sold,” the company said in a statement.
Over the past two financial years, Toys 'R’ Us lost $16 million, including $7.6 million in 2016-17 on sales of $276 million.
About 700 full-time jobs will be lost.
The sale, which includes Babies ‘R’ Us, kicks off on Friday, includes 30 per cent off all stock.
Gift cards - will be honoured until July 5, but only when customers spent an additional equivalent amount.
Lay-by will be honoured if the outstanding balance is paid and the stock is available.