Australia's Toys R Us stores to close down

Toys R Us and Babies R Us stores across Australia will be shut down after the company's local administrators said they were unable to find a buyer for the embattled brand. The closures will follow the collapse of the Toys R Us brand in the US and in the UK. The first Toys R Us store was opened in Australia in 1993. Bricks and mortar speciality stores such as Toys R Us have been struggling to compete with online retail sites in Australia. In the US, where Toys R Us was founded in 1948, the situation has been the same for several years as bricks and mortar stores struggle to compete against the likes of Amazon, among other online retailers. Toys R Us in the US first sought bankruptcy protection in September last year, but by May it announced it would close or sell its 885 stores after failing to find a buyer for the business.

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