A Birmingham-based online retailer of toys and electronic goods, whose premises were raided by the FBI in December, has been placed into administration after suffering "significant trading difficulties" over a number of years.

Chris Pole and Allan Graham, from KPMG Restructuring, have been appointed joint administrators of Trod Ltd which traders under the names of Buy 4 Less, Buy For Less, Buy-For-Less-Online, 247 Toys and Global Trader.

The business sells branded toys through multiple online market-places along with its own websites.

It is headquartered in Rednal where it employs around 60, none of which have been made redundant at this stage.

Mr Pole said: "The company has experienced significant trading difficulties over a number of years, incurring losses which have ultimately proved to be unsustainable.

"We will be trading the business as a going concern while we seek a buyer for the business and its assets."

Company owner Daniel Aston faces a potential jail sentence and his company a fine of up to $100 million after being indicted on price-fixing charges following the FBI-led raids before Christmas.

The case centres on the sale of wall posters to American customers on the Amazon website.

The FBI-led investigation saw West Midlands Police carry out dawn raids at the firm and the businessman's home after which he was charged with price fixing by the US Justice Department in violation of the Sherman Act, which carries a maximum jail sentence of ten years and a fine of $1 million.

According to accounts filed at Companies House, Trod had a turnover of more than £15 million last year, with an operating profit of £125,000.