Bidders for parts of Toys R Us’ business have until Friday to put in their offers for the retailer’s assets, which are now under the care of Moorfields after the firm collapsed into administration last week.
Moorfields is currently selling off Toys R Us’ stock, and City AM understands store closures could start as early as next week.
Read more: Toys R Us has fallen into administration
The 26 stores which were part of Toys R Us' Company Voluntary Agreement, a restructuring plan negotiated with landlords last year, are likely to be the first to close. The Toys R Us brand is tied to the global business, which has not entered into administration, meaning it will not be part of Moorfields’ sale process.
Toys R Us went into administration last Wednesday, putting more than 3,000 jobs at risk.
Maplin collapsed on the same day, putting a further 2,500 jobs in doubt. PwC is handling Maplin’s administration, and no redundancies have been announced yet, as the business continues to sell its stock.
The first quarter has exposed a significant amount of distress in the retail sector, with both Carpetright and Mothercare announcing profit warnings last week.