Owner has run out of options to try and save the business.
The statement reads:
“I am writing to inform you that due to unavoidable financial circumstances, Toy State has been left with no choice but to cease all trading. We profusely apologize for this terrible turn of events, and will work with customers, licensors and service providers in the coming weeks to finalize specific details.
Over the last thirty-four years Toy State has endeavoured to provide the highest quality toys to children around the world. Unfortunately, changing manufacturing and retail environments have combined devastatingly, which has ultimately had a terminal effect on our business and operations.
The owners of Toy State have left no stone unturned in the search for a workable solution. We are in no doubt that this news will cause much frustration and disappointment, we will continue to do everything possible within our available means to assist and answer all questions.
Again, we profusely apologize for the disruption to your business.
Sincerely, Simon Cheng.”
Although their employment for the Toy State UK Office has been terminated, UK representatives Marilyn and Michael Angel have offered to try and help customers where they can, and for the time being can be contacted as usual on 020 8440 5060 and at firstname.lastname@example.org or email@example.com.