More updates are here concerning Toys”R”Us’ bankruptcy and liquidation plans. Yesterday we reported that all stores in the United States and United Kingdom would be closed. Even so, there was a glimmer of hope concerning the chain’s presence in the US and CNBC has reported on details.
Still holding out hope for a buyer, 200 Toys”R”Us locations have been set aside to possibly continue on after the majority of the stores close. These locations would be the top 200 performing stores and would later become bundled in with the Toys”R”Us’ Canadian division. This proposal is still in talks, and if it does go through, Business Wire is reporting that the prospective buyer is MGA Entertainment. The toy manufacturer based in Los Angeles is most well known for Bratz, Num Noms, LOL Surprise, as well as owning Little Tikes. While MGA Entertainment was originally eyeing the Canadian branch, this move is motivated on Toys”R”Us’ end so that the chain doesn’t completely disappear from the US market.
Other than this ray of hope, the rest of Toys”R”Us’ bankruptcy proceedings are rather dismal. Liquidation sales are being planned to start in the coming weeks and representatives for Toys”R”Us have announced that all gift cards and “R”Us Reward Dollars will expire 30 days from now.
For the time being, we’ll have to wait and see if MGA Entertainment or another buyer will rescue the top 200 locations.Leave a Comment