Toys R Us to begin going-out-of-business sales ‘very soon’

March 15, 2018

Toys R Us announced Thursday that going-out-of-business sales will begin soon at its 735 U.S. stores, which includes the location on The Empire Mall campus.

“Our team members are standing by to help you take advantage of the deep discounts that will be available during the liquidation process,” the international toy retailer said in a statement. “Customer programs, including Rewards dollars, Endless Earnings and gift cards are being honored for the next 30 days.”

On Thursday, the New Jersey-based company filed a motion seeking U.S. Bankruptcy Court approval to begin winding down its U.S. business and liquidating inventory. Earlier, the company had filed for bankruptcy and planned to reorganize operations, including the closing for 200 stores, but lackluster holiday sales forced the latest move.

Toys R Us is seeking to sell its international operations, which totals about 800 stores. The company is engaged in discussions for a transaction that “could combine up to 200 of the top performing U.S. stores with Canadian operations.”

“I am very disappointed with the result, but we no longer have the financial support to continue the company’s U.S. operations,” said Dave Brandon, chairman and CEO. “We are therefore implementing an orderly process to shutter our U.S. operations and will pursue going concern sales or reorganizations of certain of our international businesses, while our other international businesses consider their options.”

Jodi’s Journal: In Toys R Us, a glimpse of how the consumer has changed

Tags:  

Toys R Us to begin going-out-of-business sales ‘very soon’

Toys R Us announced Thursday that going-out-of-business sales will begin soon at its 735 U.S. stores, which includes the location on The Empire Mall campus.

News Tip

Have a business news item to share with us?

Scroll to top