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Toys 'R' Us may liquidate its US operations

Monday 12 March 2018 | 12:06 PM CET

Toys ‘R’ Us has unveiled plans to liquidate its bankrupt US operations after failing to find a buyer or reach a debt structuring deal, reports Bloomberg.

The toy store’s US division filed for bankruptcy in September 2017, planning to restructure its business and focus more on digital sales. It obtained a USD 3.1 billion loan to keep the stores open during the transformation effort, but a slow sales season made cast serious doubt on the chain’s viability.

Failing to find a buyer or reaching a deal with lenders may force the toy store chain to liquidate its US operations.

The situation overseas, however, is just as grim. Its Canada division has also filed for bankruptcy, while in the UK, the unit failed to find a buyer and turned to court administrators. Its European unit is also seeking takeover bids and its Asian operations, the most profitable arm of the company, is in talks with Fung Group for a possible sale, reports Bloomberg, citing sources familiar with the matters.

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