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TOY retailer Toys R Us has fallen into administration, it has been confirmed.

Rumours had been circulating about the company’s collapse for the past few days, after a last-ditch buyout attempt fell through last week.

The firm, which has a store in Ocean Retail Park, Portsmouth, is now facing more than 3,200 job losses.

Before Christmas, Toys R Us looked to have staved-off administration, but the chain struggled to pay off a £15m VAT bill thanks to weak Christmas trading.

Recovery firm Moorfields will be in charge of handling the administration process.

Job losses imminent as Toys R Us goes into administration