Monday, 22 October, 2018

Toys R Us preparing to liquidate United States operations

Toys ‘R’ Us could go out of business next week. That’s bad news for Lego and Barbie Toys ‘R’ Us could go out of business next week. That’s bad news for Lego and Barbie
Orlando Vargas | 09 March, 2018, 17:57

Toys R Us is reportedly making preparations to liquidate all of its stores in the United States.

Sources told Bloomberg that the situation is still fluid but a shutdown of the USA division has become increasingly likely.

Toys "R" Us operated 900 stores across the USA and New York City's flagship store in Manhattan closed two years ago.

Sources within the New Jersey-based company, which filed for bankruptcy last September, told Bloomberg that a shutdown of us stores is seen as "increasingly likely" due to a lack of interest from potential buyers.

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The company was slated to close 180 stores within the coming months.

The company has not commented on the report.

In January, the retailer held out hope that closing stores nationwide would allow them to reinvent the brand and focus on priorities, Dave Brandon, CEO of the Wayne-based chain said at the time. However, the chain also announced plans to shutter more than 180 stores this year, or roughly 20% of its USA operations.

The company secured a $3 billion loan to help keep stores open during the turnaround but poor results during the holidays cast doubts about the chain's viability.

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