Toys R Us seeks £120m lifeline as survival battle intensifies

Toys R Us shelves of toys
Toys R Us has appealed to investors for a £120m lifeline as crucial payment deadlines loom at the end of the month.

The UK arm of the troubled retailer was put on the block last week, with management proposing a five-year plan to fight back against Amazon and Argos.

It is understood that potential buyers would have to stump up around £50m immediately to pay off the consortium of bank lenders that have provided financing to its US parent company. It entered bankruptcy protection in September and gained access to $2.2bn from a consortium led by JP Morgan.

Click here for the full Telegraph article