Now Toys R Us begins US liquidation

Retailer to begin ‘orderly wind down’ including sale or closure of hundreds of stores.

Toys R Us has made its liquidation in the US official, beginning an ‘orderly wind down’ of the business which will include the sale or closure of hundreds of stores.

The news follows the confirmation yesterday (March 14) that the retailer will close all of its stores in the UK after administrators failed to find a buyer.

Documents have been filed with the bankruptcy court, ultimately leading to the closure or sale of around 800 US stores.

A statement from ceo Dave Brandon said: “This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years.”

However, according to CNBC, the company may be able to save 200 stores to operate under the Toys R Us brand in the US in a deal with its Canadian business.

The new entity would be operated out of Canada. It is in talks with several parties about the potential deals, including some of its lenders.

Toys R Us also said that it is pursuing a reorganisation and a sale process for its businesses in Asia and Central Europe including Germany, Austria and Switzerland.

Its businesses in Australia, France, Poland, Portugal and Spain are considering their options, including a potential sale.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.

As the countdown to World Book Day on Thursday 7 March continues, a new study commissioned by The Works has revealed that The Gruffalo is the go-to book when it comes to reading to our children for the very first time....
Previously commissioning editor, Tori Cottonhas taken on the role, having contributed greatly to series such as Maggie Sparks - which is now a licensed IP with Larkshead Licensing - and spearheaded the products published under SCP's licensing list....
The Belgium-based bag brand has unveiled a second collaboration with Mattel and Barbie, launching later this month....
The deal sees ALDO take on the design, production and distribution of Hunter bag products and small leather goods for ladies and men in the US and Canada....
The value of the UK music, video and games markets increased for the 11th successive year in 2023, rising 7% to another all-time record of £11.9bn....
Design and illustration brand, Snowtap, together with KJG - which manages the consumer products programme - has appointed Renaissance Licensing as the sub-licensing agent for the US market....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.