The toy shop, backed by Lloyds Development Capital, was thought to have expanded too quickly. When it was first bought out in 2009, the retailer had 25 shops and has grown to have 47 since. The administration puts the stores at risk of closure and threatens jobs.
The announcement comes at a pressure-filled time as Monday was the quarterly rent day for the retail sector, meaning retailers were due to pay rent for the next three months.
Toy World will keep you updated as more details emerge.
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