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OXFORDSHIRE-based toy seller Toyzone has been sold just days after going into receivership - but headquarters staff are still uncertain about their future.

New owner, toy distributor J A Magson, immediately announced that the headquarters would be moving from Wallingford to York.

Redundancy notices are being issued to the 40 Wallingford staff, although some are being offered the chance to move to York.

Magson finance director Neil Mason said: "All Toyzone retail stores are incorporated into the Magson business and continue to trade as normal.

"The Wallingford head office team have been informed that we will need to transfer the office to York, our existing Magson base, in around three months' time.

"Naturally, everyone at Wallingford will have a different view on this move and their future in it - and we are consulting with each person to see how many jobs can transfer."

He said: "There will be some transfers but we don't yet know how many. In the meantime, everyone has been put on notice of redundancy until we work out the detail for each employee and to meet the needs of the business."

Toyzone, owned by a parent company called Youngsters, has about 150 employees.

Announcing the sale of the businesses, David Crawshaw, of KPMG Restructuring, said: "This is a great result for Youngsters and Toyzone and we're pleased to have been able to save 200 jobs at the two companies.

"The deal provides J A Magson with an excellent strategic fit with its current business and we wish the company well in the future."

Receivers were appointed to Youngsters last Tuesday, after it hit cashflow pressure following tough trading conditions over Christmas. Its 20 shops - including the Pied Pedaller, in Thame - are continuing to trade, and about 200 shop staff will transfer to Magson.

2:09pm Thursday 10th April 2008

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