Peterborough based Toys R Us slashes prices as it launches closing down sale

Toys R Us in Bourges Boulevard, in Peterborough, has started a closing down sale.
Toys R Us in Bourges Boulevard, in Peterborough, has started a closing down sale.
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An extensive closing down sale is under way at troubled retailer Toys R Us in Peterborough

The struggling chain, which went into administration just days ago, has announced discounts of up to 25 per cent on stock at its store in Bourges Boulevard.

The price cuts include its Babies R Us range and also apply to new stock that arrived this week as the national retailer looks to clear its warehouses.

Now bosses are urging shoppers to be quick to take advantage of the price reductions.

A spokesman for Toys R Us Peterborough said: "There are plenty of bargains to be had in store, everything is now reduced by up to 25 per cent on shelf price.

"If you’re looking for toys or expecting a baby then head to the store now, everything must go. Due to such fast-moving demand, please hurry before all the stock is gone."

The store will continue to trade until further notice.

Toys R Us, which has 105 stores across the UK, went into administration after failing to find a buyer for the company as a going concern. Nationally, 3,000 jobs are att risk.

Joint administrators Simon Thomas and Arron Kendall of Moorfields Advisory, said: "Following the failure to attract a buyer for the business prior to administration, the Joint Administrators are conducting an orderly wind-down of the company's store portolio."

A statement from Toys R Us Peterborough added: "Customers are advised to take advantage of the heavy discounts as soon as possible, as weekend sales in other stores across the country indicate that some of the most popular ranges may sell out fast.

"New and expectant parents will find the Babies R Us clearance sale particularly useful as all of the large items that can usually be an expensive purchase are discounted, including cots, car seats and prams..

"Gift cards will be honoured until Sunday 11th March, so be sure to grab your chance to get more toys for your money while such great discounts are available.

"Deposits paid by customers under Take Time to Pay Agreements towards larger purchases will be honoured, provided that the outstanding balance is paid and the goods are collected by 11th March 2018. Alternatively, customers can use their deposits towards the cost of any in-store purchases provided that these are also completed by 11th March 2018.

"We are happy to exchange goods that are unopened, in a resalable condition and have a valid proof of purchase. Exchanges can only be made whilst the stores remain open and therefore if you have an item that you wish to exchange, we would encourage you to do so as soon as possible before Sunday 11th March 2018.

"The company can no longer accept returns for refunds. This does not affect Customers’ Statutory Rights with regards to faulty merchandise."