Thame toy shop company goes into administration

THE company behind Toyzone, which owns the Pied Pedaller toy shop in Thame, has been taken into Administration.
Youngsters, the company behind all 20 Toyzone stores, found that conditions over the Christmas period, which is traditionally the peak time for toy retailers, were tougher than expected, resulting in increased cash flow pressure which the company can no longer sustain.
The Administrator says that it is now “reviewing options” and hopes to secure a buyer for the business and its assets but that all 20 stores will carrying on trading while a buyer is sought.

It would seem that in the City, analysts are predicting a rise in the rate of businesses defaulting on loan agreements as consumers cut back on spending in the face of climbing mortgage bills.