Scores of Peterborough workers face uncertain time as two retailers plunge into crisis
Workers in Peterborough are facing a tough time after two leading retailers plunged into crisis.
Jobs are at risk at Toys R Us, in Bourges Bouelvard, and home electronics and accessories retailer Maplins, in Westgate, after the national companies went into administration.
Toys R Us employs about 3,000 workers in its 105 stores while Maplin has 200 stores and 2,500 staff in the UK.
There was further uncertainty for city workers after it was reported the owners of restaurant chain Prezzo, which has an outlet in Cowgate, Peterborough, could be looking to close some of its outlets to save cash. It is said the move by equity firm TPG Capital could also involve the closure of its Tex-Mex chain Chimichanga, which has an outlet in Church Street, Peterborough.
Retailers and restaurants have been under pressure for some time as the National Living Wage and the Apprenticeship Levy have forced up costs while the rise of online shopping has eaten into sales.
The collapse of Toys R Us and Maplins is the latest blow to Peterborough's retail offering.
Just a few weeks ago, the upholstered furniture retailer Multiyork closed its prominent store in the Rivergate shopping centre, Peterborough, after the 39-year-old company went into administration.
Joint administrator Simon Thomas, of Moorfields, 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."