The final solicitors’ bills for the administration of Toys R Us are set to rise to almost £2m.
A joint administrators second progress report from insolvency practitioners Moorfields, lodged at Companies House at the end of last month, said legal bills are predicted to rise to £1,798,627. Costs to date are £925,827 and are expected to rise by another £872,000.
Toys R Us sunk into administration in February last year – one of a string of prominent high-street casualties over recent months. Earlier this month, the Gazette reported that the biggest collapses had generated more than £7m for law firms.
Among the law firms listed as advisers in the latest Toys R Us report are international firms DLA Piper and Travers Smith, and US firm Troutman Sanders.
As in the last report, international firm Kirkland & Ellis, Stephenson Harwood, Shoosmiths and PDT Solicitors are also listed.
As of 27 February 2019, DLA Piper had been paid £16,046 and is owed another £95,969, while Kirkland & Ellis has been paid more than £450,000 and is owed a further £36,990. Stephenson Harwood has collected £360,000 and stands to receive another £18,255. Travers Smith and Troutman Sanders are due £6,697 and £14,350 respectively.