Having gone through the full liquidation of over 1000 stores between 2017 and 2018, Toys R Us is now preparing to return.
The debtors of Toys R Us have cancelled the upcoming bankruptcy auction which would’ve sought to retrieve debts owed by the company.
The retail sector of the games industry has changed quite a lot over the last 12 months. Now with the Wal-Mart-owned Asda looking to merge with Asda the face of retail in the games industry could change once again.
Toys R Us is preparing to close all US stores, meaning liquidation sales are imminent across all 800 US store locations.
Today it was announced that as the company collapses into administration all UK Toys R Us stores will be closing. This is probably the end of Toys R Us, given that the Toys R Us in the US have already announced closing down their stores.
News has emerged from sources close to Toys R Us that the company is considering a complete shutdown of the US division, having so far failed to find a buyer or reach a reasonable structure for debt repayment with lenders.
Toys R Us UK has gone into administration today. Unfortunately since a buyer for the company couldn’t be found administrators have been brought in to begin to wind Toys R US UK down in an orderly fashion.
Following the financial issues of the US parent company the UK subsidiary of Toys R Us has been put up for sale. This leaves over 3,000 jobs in the UK at risk as the future of the franchise in the UK is now uncertain.
The toy store chain Toys R Us has announced that they’ll be closing a number of stores around the US due to financial difficulty.
It’s that time of the year again. Black Friday, the blockbuster sales event of the year, is little more than a week away.