The new owners of Toys “R” Us want to bring the brand back to the United States. But they can’t say when it will happen. The troubled toy company found another life last month as Tru Kids Brands, roughly half a year after Toys “R” Us closed the last of its stores in the United States. It is now owned by the company’s former creditors. More than 700 American Toys “R” US stores closed last spring. But the company kept 900 stores open in Europe, Asia and India. The new owners have plans to open another 70 stores overseas — mostly in Asia — by the end of the year. They’re also considering plans for the US market, including brick-and-mortar stores and online sales, though it’s not clear when a relaunch would happen. FOX6 has the full story.
Toys R Us is in the process of drafting the court motion for its liquidation plan, a source familiar with the situation told CNBC. See the full story there.
“This deal is getting worse all the time!” After disappointing holiday sales, Toys R Us plans to close another 200 stores. What a shame. The Wall Street Journal has the full story.
Retailer Toys R Us has filed for Chapter 11 bankruptcy. This action will allow them to work with creditors to hopefully turnaround their current financial status. Toys R Us will operate in a “business as usual” fashion for the foreseeable future. The NY Times has the full story. (This is the “big announcement” we let you know was coming last night.)
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