Toys 'R' United States may have to close all U.S. stores
10 Marcha, 2018, 04:03 | Author: Arnold Perez
Bankrupt Toys "R" Us is preparing to liquidate its American stores and operations after failing in its efforts to find a buyer or a way to restructure its debt deal. Hopes are starting to fade away as no buyer has emerged so far to keep some of the business operating, or lenders will agree on terms of a debt restructuring.
Most everyone expected Toys "R" Us to close a significant amount of stores if it wanted to successfully restructure, something CEO Dave Brandon explained to customers who were anxious about the company's future.
The report claims that talk of a Toys R Us liquidation is still only that. The company's huge interest payments also forced it to use resources that could have gone toward improving technology and operations.
The Toys "R" Us collapse shows how little iconic retail brands matter anymore.
The company was trying to re-negotiate its $5 billion debt load, which it has carried since 2005.
Krystina McNamara looks forward to driving over an hour into Grand Rapids, to bring her daughter to Toys R Us.
A spokesperson for Toys "R" Us declined to comment on the liquidation, and the New Hartford location could not be reached for comment. But reports out Friday indicate it will close all stores. "Toys "R" Us is where new products can be discovered and blossom". The Canadian portion of the company filed for bankruptcy when the United States arm did. The company has about 82 stores in Canada, as well as an e-commerce site.
In more recent years, sluggish traffic and the shift online took their toll. Toys "R" Us may be running out of time, if it hasn't already.
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