On December 4, 2017, the company reported that it would be liquidating and closing at least 26 stores in the United Kingdom as part of an insolvency restructuring known as a company voluntary arrangement. After amassing £15 million in unpaid taxes, Toys "R" Us Limited entered administration on February 28, 2018. On March 2, 2018, it was announced that all UK stores would begin a liquidation sale, and on March 14, 2018, it was announced that all UK stores were expected to close within six weeks. On April 24, 2018, Toys "R" Us stopped trading in the United Kingdom after 34 years of service.