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Ian Corfield, from KPMG’s Restructuring team in the East of England said: „“Despite cost saving measures earlier in the year, the difficult trading conditions coupled with increasing costs have left the directors with no alternative but to place TM Kingdom Ltd into administration. We will be working with the management of Toymaster Ltd, and the management at TM Kingdom Ltd, to find purchasers for the business as a going concern, to try to secure all jobs, and to ensure the survival of the business, particularly as it approaches what has historically been its most busy time of the year”
TM Kingdom Ltd currently employs around 150 staff who were today informed that the business is not being closed, and the company will be trading under the control of the administrators whilst a purchaser is being sought. All employees of the Company as at today’s date will be paid for work carried out by them from the last date that they were paid.
Toymaster Ltd will continue to pay suppliers all undisputed TM Kingdom Ltd invoices for goods invoiced through Toymaster Ltd, in the normal way, as and when they become due for payment and will be making its own announcements in due course. | 
