Toy retailer ceases trading due to market slowdown and increased competition

An East Yorkshire-based toy retailer has been forced to close down after trading for 14 years.

Plastoy Limited, which traded as Duplay, operated out of premises on Beverley Road in Hessle.

With six employees, the retailer conducted the majority of its business through the internet.

Kelly Burton and Lisa Hogg of insolvency specialists Wilson Field were appointed as joint administrators on 30 January 2019.

The sale of stock, including brands such as Airflow, Besta, Peg Perego, Pinghu Dake and Polarisis, is being handled by John Pye & Sons.

Burton said: “The company had been trading satisfactorily until 2018 when a combination of a general slowdown in the market and greater competition hit margins.

“This was exacerbated when for personal reasons the director had to close the shop for a period, at a time when cash flow was already overstretched.”

She added: “At the time of our involvement, options were very limited and there was little alternative but to close the business and try to achieve the best return for creditors.”

“To this end John Pye & Sons are acting as our agents in the sale of some well-known toys brands.”