tinyfav.com March 17, 2018

Toys "R" Us may liquidate its bankrupt United States stores

11 March 2018, 01:36 | Myrtle Vega

Toys “R” Us operated 900 stores across the U.S. and New York City’s flagship store in Manhattan closed two years ago

Toys “R” Us operated 900 stores across the U.S. and New York City’s flagship store in Manhattan closed two years ago

Several sources, including Reuters, CNN, Bloomberg and Fortune are reporting Toys "R" Us might liquidate its assets and shut down all of its USA stores.

He noted that while liquidation is far from a certainty - reports this week said that the insolvent US parent company was still working to reach a deal with its lenders - the Canadian unit, a standalone business with 82 stores and $1.08 billion in annual revenue, has sparked some interest.

The toy chain's United States division entered bankruptcy in September past year, planning to emerge with a leaner business model and more manageable debt.

Lincoln's Toys "R" Us dodged the company's last round of store closings, but it may not be around much longer.

Stores outside of the US are not affected.

Toys R Us failed to pull off the juggling act needed to balance a massive debt load while attempting to upgrade its out-of-date stores and improve its e-commerce offerings.

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There are two Toys R Us and two Babies R Us locations in Tucson.

Both toymakers previously said that the retailer's bankruptcy filing materially impacted their businesses.

There is only one Toys "R" Us in Texoma which is located in Wichita Falls near Sikes Senter Mall.

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

The falling fortunes of Toys "R" Us mirrors that of other major retail chains, most of which have fallen prey to online competition from Amazon and other outlets.

Its worsening situation, along with reports that it was considering bankruptcy, spooked vendors - with about 40 percent of them ceasing shipments and forcing the company to seek court protection. "Not just Toys R Us", he said, "but across the industry".

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