Staff at the Toys 'R' Us store at Miranda Westfield face an uncertain future with the parent company announcing on Monday it had gone into voluntary administration.
Directors of the company resolved to appoint voluntary administrators McGrathNicol after the withdrawal of the final bidder for the sale of the Australian business, a McGrathNicol spokesman said in a statement.
All Toys R Us and Babies 'R' Us stores will remain open and continue to trade while the administrators explore options for the sale of the stand-alone Australian business or a recapitalisation through the voluntary administration process.
The company operates 44 retail stores across Australia and employs about 700 permanent staff.
No employee positions are affected by the appointment, the spokesman said.
The move by Toys 'R' Us Australia comes just months after the US and British retail giant's collapse.
Toys ‘R’ Australia made the following statement on its Facebook page today:
“Please note some important changes will apply until further notice:
- Gift cards and vouchers will be honoured provided customers spend an additional equivalent amount in store (in other words, to utilise a $100 gift card or voucher in full, customers must spend at least an additional $100 in store). Gift vouchers will not be honoured online.
- Online orders will be delivered where goods have been paid for in full and the stock is available
- Lay-by will be honoured if the outstanding balance is paid and the stock is available and
- While VIP discounts will be honoured, the ability to earn and utilise points will be suspended
“We thank you and all our valued customers for your ongoing support and patience during this time.”
Further details: 1300 TOYS R US (1300 869 778).