Toys R Us confirms plans to shut Shrewsbury store
Troubled US retailer Toys R Us is set to close its Shrewsbury store in the spring of next year, one of 26 closing across the country.
The company said there would be no changes over the crucial festive season with the store on Meole Brace Retail Park continuing to trade.
In a statement released today, the company said that it plans to revamp its business in response to “evolving needs of customers in today’s UK retail market”.
It said that it would be instigating a so-called “Company Voluntary Arrangement” under which it will seek creditor approval to shut outlets in order to save costs.
Steve Knights, of Toys 'R' Us UK, said: "All of our stores across the UK remain open for business as normal through Christmas and well into the New Year. Customers can also continue to shop online and there will be no changes to our returns policies or gift cards across this period.
"Our newer, smaller, more interactive stores are in the right shopping locations and are trading well, while our new website has generated significant growth in online and click-and-collect sales.
"But the warehouse style stores we opened in the 1980s and 1990s, while successful in the early days, are too big and expensive to run in the current retail environment. The business has been loss making in recent years and so we need to take strong and decisive action to accelerate the transformation."
