Amazon could buy Toys "R" Us stores

Robyn Valdez
March 22, 2018

The bankrupt toy retailer has laid out plans to close all of its 735 stores after recording weak sales and failing to find a corporate buyer. Amazon, Target, and Walmart all cranked up toy discounts during the holiday shopping buzz, severely hurting Toys-R-Us revenue during this critical time of business.

Some Toys "R" Us investors are mulling whether to salvage some stores as part of a slimmed-down version of the business, the New York Post reported.

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"Toys already had like $5 billion of debt", said Adam D. Stein-Sapir of Pioneer Funding Group, which specializes in analyzing and investing in bankruptcy cases, and who is not involved in the case.

Strategic Marks, which owns the KB Toys name and brand, announced that it plans to open 1,000 pop-up KB Toys shops this year for Black Friday and the holiday season, according to CNNMoney.

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Northwest Austin has a Toys R Us and Babies R Us store at 9333 Research Blvd., Bldg. The company filed for Chapter 11 bankruptcy protection in September. The company said, "This decline may be attributable to several factors, including competition from big-box retailers, large tenant closures, and the increased popularity of online shopping".

The sales start Thursday, March 22 and will end in June. All sales will be final on purchases during the liquidation process.

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"We're talking to companies that know how to do it, they have a methodology, they're used to rolling out stuff real quickly", he said. After that, you risk forfeiting any value on these cards.

Other reports by Info About Network

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