Toys R Us on way out

TOYS R Us aims to close the doors on its last Australian stores on or around the first weekend of August.

Plans to wind up the 44 stores were announced in May and administrator McGrathNicol said yesterday it had accelerated the liquidation of stock. It will discount heavily over a final 10-day sale and is selling off store fixtures and fittings.

About 700 full-time workers in Australia will have lost their jobs by the time the last of the local stores closes. The closures follow the failure of Toys R Us in the US in March.