Two U.K. retailers, Toys "R" Us Inc.’s U.K. unit and Maplin Electronics Ltd., called in administrators yesterday after both failed in their attempts to find buyers, Bloomberg News reported. Toys "R" Us said that Simon Thomas and Arron Kendall, partners at Moorfields Advisory Limited, are acting as joint administrators of the British division of the U.S. retailer to oversee “an orderly wind-down of the store portfolio over the coming weeks.” Thomas said in the emailed statement that administrators will continue to seek a buyer for all or part of the business. Maplin had failed to secure new capital amid sterling’s devaluation, a weak consumer environment and the withdrawal of credit insurance, Chief Executive Officer Graham Harris said.
