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Toys'R' Us to close Australian stores, hundreds of jobs lost

Efforts to save the jobs of 700 Toys ‘R’ Us staff have failed with the giant toy retailer set to close the doors of its 44 Australian stores in coming weeks.

Administrators were appointed to the Australian business in May two months after its US parent collapsed spectacularly in March.

There were hopes the bankrupt retailer's local operations could be merged with its Asian business and sold to a new owner.

“Despite productive discussions with a number of interested parties, all of the parties have now advised the administrators they have withdrawn from the sale process,” McGrathNicol said Wednesday.

"Therefore a going-concern sale will not be achieved and the business will now be wound down,” they said.

All operations across Australia, including every store as well as its head office and distribution centre at Regents Park in Sydney, will close.

“Employees from head office, distribution centre and stores have been briefed by the administrators today,”

McGrathNicol said.

The company’s online ordering system will shut on Friday and stock will be liquidated through the store network.

Toys ‘R’ Us gift cards will be honoured until the 5 July provided customers spent and additional equivalent amount. Existing laybys would be honoured until the same date.

Staff entitlements such as super and upaid leave will rank as priority claims against Toys 'R' Us assets and were expected to be paid in full, the administrators said.

Toys R Us said on March 15 it would close all 735 of its stores in the US, where it is headquartered, after going bankrupt in September and failing to restructure billions of dollars of debt.

Controversial Sydney businessman Salim Mehajer will have to serve 11 months behind bars over an electoral fraud plot with his sister.

Before reading out her reasons in the Downing Centre Local Court on Friday, magistrate Beverley Schurr said she would be jailing the 32-year-old for 21 months and ordering him to be released on a good behaviour bond after he serves 11 months.

She previously had found him guilty of 77 charges relating to a joint criminal enterprise with sister Fatima to influence the 2012 Auburn City Council vote.

Fatima Mehajer was given a two-month suspended jail term and placed on a $500 nine-month good behaviour bond.