Toys R Us may liquidate its bankrupt U.S. operations, report says

Toys R Us may liquidate its bankrupt U.S. operations, report says

Toys R Us may liquidate its bankrupt U.S. operations, report says

Toys "R" Us is preparing to liquidate its USA stores, according to national news reports.

Toys "R" Us filed for bankruptcy in September and has been closing stores to try to cut costs.

Toys R Us declined to comment.

Fifteen percent of US toy revenue.

The deal left Toys "R" Us with a $5.2 billion albatross of debt around its neck.

Putin says Russian Federation ready to discuss any issues with US
Throughout the interview, Putin continued to dismiss the claims that the meddling had come at the orders of the Russian government.

"If there is going to be a bankruptcy liquidation in the USA, it is possible for the Canadian operation to be spun off and sold and transferred", Lou Brzezinski, partner at Toronto-based Blaney McMurtry LLP, who represents Toys "R" Us Canada creditors including Outset Media, a game maker owed about $250,000. The retailer is closing many stores around the United States because they're either losing money, or the rent is too high. But, since news began breaking that the company could ultimately liquidate entirely, the retailer has been eerily quiet.

One company that could benefit from the model: Toys R Us.

Toys R Us started in 1948 as a baby-furniture store in Washington, D.C. Nine years later, founder Charles P. Lazarus switched the store's focus to toys and shifted operations to Rockville, Md.

Toys "R" Us' UK unit put itself in the hands of a court administrator after discussions about selling the business fell apart. The company is also considering other options, including a potential sale in bankruptcy if possible, the source told Reuters. Receiving debtor-in-possession financing and bankruptcy protection, Brandon said, would "ensure the iconic Toys R Us brand stays viable for years to come".

Related news