TOYS-R-US MAY SHUTDOWN ALL STORES
According to the Bloomberg report, Toys “R” Us is preparing to shut down its U.S. operations and liquidate its assets. After flagging sales, the U.S. branch of the company went into bankruptcy proceedings in September, hoping to restructure its debt. The company reportedly took out a $3.1 billion loan to keep the stores open during the holidays, hoping that would be enough to turn the toy store around, but Christmas sales were worse than expected.
Unless a buyer emerges soon, the chain may have no choice but to shutdown its U.S. operations and sell off its stock of bikes and trains and video games.