Toys 'R' Us prepares to liquidate operations

Toys 'R' Us Considers Closing All of Its US Stores

Toys R Us is reportedly preparing to liquidate its assets, and it could shutter all of its USA stores as early as Monday.

Bloomberg reported Thursday that people familiar with the matter said a shutdown of the USA division had become increasingly likely, as the likelihood of a buyer or lenders agreeing to debt restructuring has decreased.

The toy chain entered bankruptcy in September 2017 with plans to close some stores and emerge with a new business model.

Toys R Us declined to comment.

While last year's bankruptcy filing only applied to the company's USA operations, it is struggling overseas as well.

Fifteen percent of USA toy revenue. If Toys "R" Us does end up liquidating most of it's USA operations though, that will have a much more significant impact on every toys company, not just Mattel and Hasbro (via Reuters).

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Toys R Us could announce whether it will liquidate its stores as soon as Monday following a bankruptcy hearing, the Wall Street Journal reported. The retailer devotes so much of its space to toys - rather than the few aisles at Walmart and Target Corp. - it can take chances on new items and smaller suppliers.

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

Some Canadian subsidiaries of US retailers have managed to survive their parent company's bankruptcy, however.

The toy chain, which has a branch at Ocean Retail Park, in Copnor, Portsmouth, had appointed Moorfields Advisory to oversee administration last month after the firm failed to find a last-minute rescuer. Receiving debtor-in-possession financing and bankruptcy protection, Brandon said, would "ensure the iconic Toys R Us brand stays viable for years to come".

In January, the chain announced plans to close 184 stores, or about 20% of its roughly 800 USA stores.

Numbers are also declining for other American toy companies, with Hasbro (3 percent) and Mattel (5 percent) seeing stocks drop.

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