Overview

• BDO partners Luke Andrews and Duncan Clubb took control after the board concluded the retailer could not pursue a solvent recapitalization.
• The company’s auditor warned of a near $13 million gap between liabilities and assets.
• Toys R Us held just $211,000 in cash at the end of March despite quarterly revenue rising to $863,000 by April.
• Primary stakeholders, including the main debt provider, have indicated they will collaborate with administrators on restructuring proposals.
• The brand’s 2020 revival through Funtastic’s reverse takeover is now under review as administrators weigh sale or further capital raising.