MSE News: Toys R Us trouble: Here's what you need to know

Fears are mounting over the future of the Toys R Us rescue plan after the UK Pension Protection Fund demanded a £9 million lump sum - if you're a 'Take Time to Pay' customer or gift card holder, here's what you need to know...
Read the full story:
'Toys R Us trouble: Here's what you need to know''
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free Martin's Money Tips E-mail

Replies

  • haynickhaynick Forumite
    521 Posts
    Spend your gift cards super quick.
    Surprised if they don't drop into administration by the end of the week.
  • liviboyliviboy Forumite
    513 Posts
    Part of the Furniture 100 Posts Combo Breaker
    ✭✭
    We've been here so many times! Get the gift cards spent ASAP!

    I think the only time I can remember where gift cards were fully accepted after administration was HMV a few years ago...and the administrators were praised highly for it (which may have went some way to keeping customers and allowing them to sell the business on....).

    Also spending gift cards may help the balance books by removing the liabilities from the books once the value has been spent.
  • fromtheshiresfromtheshires Forumite
    307 Posts
    Seventh Anniversary Combo Breaker
    ✭✭
    We are now at the viscous circle of putting a business into administration.

    The business struggles and announces it via store closures etc.

    Suppliers put cash only orders through, limit payment terms and lower credit limits making it harder to buy goods so they are at less risk.

    The business has to put prices up to cope with this as they are likely to be cash poor, especially after the announcement of having to put large quantities of cash into a pension fund.

    Customers go elsewhere as it he business is expensive compared to other shops.

    The business falls into administration.

    I will be very surprised if Toys R Us are still open after they close for Christmas. I just hope if they do go under, they won't announce it until after Christmas Day so shop workers can enjoy their Christmas unlike the poor guys who worked at city link.
  • pmdukpmduk Forumite
    10.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭
    When will the Government finally step in and ensure consumers monies on deposits, layaways and gift cards are ring-fenced?
  • edited 28 February 2018 at 12:37PM
    worldtravellerworldtraveller Forumite
    14K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭
    edited 28 February 2018 at 12:37PM
    Toys R Us is expected to tumble into administration next week after last ditch talks to find a buyer faltered.

    The move will put 3,200 jobs at risk and follows the recent decision by its bankrupt American parent to try to sell the loss-making UK business as well its other European stores.

    Members of the Toys R Us management team met with officials from the Pension Protection Fund (PPF) on Friday to notify them of the development. The troubled retailer had been trying to drum up a buyer before the end of the month when several payments, including a £15m VAT bill, fall due.

    The Guardian
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • worldtravellerworldtraveller Forumite
    14K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭
    Toys R Us has gone into administration, putting 3,000 UK jobs at risk.Administrators have been appointed to begin "an orderly wind-down" of the UK's biggest toy retailer following the failure to find a buyer.

    They said that all 105 Toys R Us stores will remain open until further notice.

    Joint administrator Simon Thomas said: "Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided."

    BBC News
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • edited 3 March 2018 at 2:06PM
    dollywopsdollywops Forumite
    1.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭
    edited 3 March 2018 at 2:06PM
    Copied from the toys r us website

    Take Time To Pay Agreements
    If you have recently settled your Time to Pay agreement and collected your goods, then you are no longer a creditor of the company and nofurther action is needed.

    If you have recently settled your Time to Pay agreement and but not collected your goods, then you should collect your goods from store as soon as possible.

    If you have not settled your Time to Pay agreement and not collected your goods then you will need to attend your local store by Sunday 11 March 2018 and either:

    Pay the balance for the merchandise they have included in their Take Time to Pay Agreement. The price of the merchandise will be the price in store on the day the customer settles the Take Time to Pay Agreement less the deposit that they have already paid; or
    Purchase alternative goods that exceed the value of their deposit.
    No cash refunds will be issued in respect of deposits paid prior to the company entering Administration

    Noticed this. I read this as if someone is in one of these agreements, they can, either pay it off at today's prices and get the item they have been saving for, or alternatively, use their deposit to get goods at today's value.
  • paul2louisepaul2louise Forumite
    2.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Does anyone know what sort of deals they have in store, is there stock left. I am planning to spend the gift card on saturday as we only got it as a present a few weeks ago.
  • worldtravellerworldtraveller Forumite
    14K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭
    All Toys R Us stores in the UK will close in the next six weeks following the chain's collapse into administration.

    Attempts to find a buyer for the US retailer's 100 stores in the UK have failed.

    Twenty five stores have either closed in recent days or are due to shut by Thursday.

    The collapse will put more than 3,000 people out of work as a dismal period for the retail sector continues.

    BBC News
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
This discussion has been closed.
Latest MSE News and Guides