Toys R Us to close all of its U.K. stores

Toys 'R' Us Files For Bankruptcy
Getty Images | Leon Neal

Toys R Us is closing all of its stores in the U.K.

The company appointed administrators last month to run the business, and no buyer has since come forward to rescue Toys R Us in the U.K.

Toys R Us has since closed 25 stores. The company announced Wednesday the remaining 75 stores would remain open for now while executives determine a schedule for their closure.

“The closure program for the remaining stores is expected to take approximately six weeks to complete with further announcements to follow,” it said in a statement.

Getty Images

In the meantime, the Toys R Us and Babies R Us stores will continue discounting toys, including 30 percent off outdoor toys and bicycles. The company encouraged shoppers to take advantage of the sales and help clear items off store shelves.

Toys R Us is one of the U.K.’s largest toy retailers with 3,000 staff across the country. The company said some buyers were interested in purchasing Toys R Us, but the company didn’t receive any formal bids. The company laid off 67 people at its headquarters on March 13.

“We are grateful for the hard work of Toys R Us staff during this very difficult period and will be providing support where we can to those who have been made redundant,” said Simon Thomas, the company’s administrator.

The collapse of Toys R Us in the U.K. follows Toys R Us filing for bankruptcy in the United States in September. The company is widely expected to announce this week that it will close all of its U.S. stores.

Written by David Goldman for CNN.

™ & © 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved.

About the Author