Is This The End For Toys "R" Us?

11 March, 2018, 01:36 | Author: Genevieve Gibbs
  • Toys

Bloomberg reported on Thursday that Toys "R" Us is making preparations for a liquidation of its bankrupt USA operations.

The toy company is reportedly having trouble finding a buyer or reaching a debt restructuring deal with its lenders, but some experts believe a rescue deal could still be possible.

When Toys R Us filed for bankruptcy protection in September, the company believed that it could emerge from bankruptcy by the fall as a slightly smaller version of itself, with a more manageable debt load.

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The longer the stores stay open, the more rent Toys R Us will owe to its landlords. The company is now saddled with around $5 billion in debt, and it has found it hard to find relief.

Earlier this year, the company announced it would close about 182 stores as part of its bankruptcy reorganization, which included Babies "R" Us stores.

That became apparent on Monday when the stocks of two of the world's biggest toy makers tumbled in USA trading.

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CNBC says some lenders are asking the company to fully liquidate.

The decision to close all 800 US stores is not final and could change if a turnaround plan is announced.

While the situation could change, the New Jersey-based retailer in recent days has been making preparations for a liquidation of its bankrupt operations, the Bloomberg report said citing sources. The latest news signals a chance the company will shutter all of its stores in the United States as well.

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Krystina McNamara looks forward to driving over an hour into Grand Rapids, to bring her daughter to Toys R Us. However, industry experts believe that sagging sales and the loss of a key revenue stream in Toys "R" Us is likely to fuel rumors of a merger between Hasbro and Mattel as they struggle to survive an online-retail takeover. According to The Washington Post, Hasbro dropped $2.52 (2.7 percent) to $90.86 per share, while Mattel sank $1.01 (6.3 percent) to $14.96.


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