Toys R Us collapse puts 3,200 jobs at risk
Toys R Us has crashed into administration placing 3,200 jobs at risk as a string of UK retailers battle tough trading conditions.As first reported by Sky News, the company's UK operation had been engaged in a frantic search for a buyer for the last month following weak Christmas trading which left it with little hope of paying a £15m VAT bill demand.Sky's City Editor Mark Kleinman also expected the electrical goods retailer Maplin to collapse later on Wednesday - placing a further 2,500 jobs in jeopardy and sealing the worst day for the high street in many years.Chains are juggling a swarm of pressures including rising costs, online competition and dwindling consumer spending.Moorfields has been appointed administrator to Toys R Us, the country's largest toy retailer, which is continuing t...