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retail sector

Toys’R’Us winds down business

The British arm of troubled retailer Toys'R'Us is winding down its activities, administrators said Wednesday, as the US firm faces pressure from rival stores and online giant Amazon. It means up to 3,200 jobs are at risk and comes as British electricals retailer Maplin on Wednesday joined Toys'R'Us UK in falling into administration -- the process whereby a troubled company seeks independent financial advice regarding its future. Maplin operates out of 217 stores across Britain and Ireland, employing close to 2,500…