Time to put the toys away- Toysrus to liquidate all Stores?
It's the end of an era...Last week, Toys R Us UK entered administration, and we are now sad to report that the USA branch is on the brink of going into liquidation.
Bloomberg reports that Toys R Us Inc is making preparations to liquidate the entire USA operation, after attempts to find buyers or reach a deal with lenders to manage the chain’s debts. Bloomberg’s sources suggest that the situation has deteriorated over the last few days, making liquidation increasingly likely.
It is further reported that Toys R Us Europe is seeking takeover bids, while the Asian branch is in the process of being offloaded. There is no word on what may yet become of TRU Canada which entered bankruptcy last September.
The collapse of Toys R Us in the USA will mean the loss of 15% of US toy sales. For those of us collecting toys, it’s bad news, as Toys R Us have long been a partner of Hasbro in offering exclusives, as well as one of the three main places to find new toys. Moreover, it’s dreadful news for all of those working for Toys R Us who are now facing up to the reality of losing their jobs.