Sources say the toy chain, which filed for bankruptcy protection in September, is evaluating bids to liquidate the locations
Reuters News Service
Troubled toy chain Toys “R” Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.
The big box retailer filed for chapter 11 protection in September with the hopes of reorganizing its roughly $5 billion debt load, revamping its stores and operations, and continuing as a mainstay toy business.
The company recently announced plans to close 184 stores, or about 20% of its roughly 800 U.S. stores, as it worked with creditors to restructure its debts. But now it is now evaluating bids to liquidate the remainder of its U.S. locations, the people said.
Please click on the link below for the full story from the Wall Street Journal.
https://www.wsj.com/articles/toys-r-us-considers-closing-all-of-its-u-s-stores-1520549311
Here is a timeline of the chain’s history from USA-Today.
https://www.usatoday.com/story/money/business/2018/03/09/toys-r-us-timeline-history-nations-top-toy-chain/409230002/
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