"Despite its pledge to shut down stores, to scale back operations to save costs and its frantic attempts to find a buyer, Toys R Us has unfortunately fallen foul of a flawless storm hitting bricks and mortar retailers across the board", said Julie Palmer, regional managing partner at consultancy Begbies Traynor.
Its problems, a result of high poor sales, were compounded by demands for a £15m Value-Added Tax payment.
Administrators were called in after unsuccesfful attempts to sell it as a going concern.
Toys R Us - which has stores at Broughton Retail Park and at Chester's Greyhound Retail Park - is one of the nation's biggest toy retailers, with more than 100 stores in the United Kingdom and 1,500 in 33 countries across the globe.
The process has been described by administrators as an "orderly wind-down".
Whether some or all of the stores will close "remains to be decided", said Simon Thomas, a joint administrator at Moorfields Advisory, the administrators appointed over Toys R Us U.K.
Consumers are increasingly shifting to online retailers like Amazon.
Toys R Us stores will remain open during the administration process, but the retailer can not refund any returns.
Gift cards and vouchers will continue to be honoured while the stores continue to trade.
Refunds and Exchanges No exchanges for non-faulty items may be accepted and no refunds will be given.
Two retailers have collapsed into administration leaving more than 5,000 jobs at risk.More news: Rick Ross hospitalized after being found unresponsive, report says
More news: Ukraine Closes Schools To Save Natural Gas
More news: Ronda Rousey making her WWE debut
Customers can expect huge "clearance discounts and other special promotions" in stores and online as the retailers bids to shift the stock.
"This necessitated an intensive search for new capital that in current market conditions has proved impossible to raise".
"These macro factors have been the principal challenge, not the Maplin brand or its market differentiation".
Edinburgh Woollen Mill, run by retail billionaire Philip Day, had been touted as a potential rescuer for Maplin at the 11th hour.
Once a company enters administration you may have to claim back money from your credit card or debit card provider.
"Staff have been paid their February wages and will continue to be paid for future work while the company is in administration".
But, when does the sale start and what are the best discounts?
"National governments, including the United Kingdom, have dramatically favoured the new e-businesses and have let regional or national retail chains die".
The opposition Labour Party called Wednesday's news "devastating".
What is administration followed by Company Voluntary Arrangement, or CVA?
The firm explained that there is "an order of priority regarding who ranks above who when a company goes into liquidation", and "trade creditors would be below secured creditors such as banks and the company's employees".