Toys ‘R’ Us store closures put 2700 Australian jobs at risk
The future of Toys ‘R’ Us in Australia is in doubt, with about 2700 local jobs at risk, following the retail giant’s decision to shut up shop in its home market, the United States.
News broke overnight Australia time that Toys ‘R’ Us was preparing to sell or close all 885 stores in the US after failing to reach a deal to restructure billions of dollars of debt.
The Wall Street Journal reported that chief executive David Brandon told staff the company would likely liquidate stores in Australia, France, Spain and Poland, and would try to sell operations in Canada, central Europe and Canada. Sydney Morning Herald – Read more…