According to well-positioned sources, the retailer called in the receivers at 6.00 pm yesterday (1st February).
Toys R Us Ireland opened its first two stores in September and October last year. Four short months later, it appears that the retailer has admitted defeat in its bid to establish a chain of stores to rival Smyths Toys in its heartland.
The operation was a franchise set-up, with one of the main partners having previously worked in a senior capacity at Smyths Toys. When the venture was first announced, it was generally felt within the toy trade that taking on Smyths Toys in its own backyard was an ambitious challenge: the speed with which the operation has failed proves just how ambitious.
Further details are sketchy at this point. If you have any more information about this development, please call Toy World on 01442 502408 or email firstname.lastname@example.org