Tough times for Toys R Us as a specialist liquidation firm evaluates which stores will be marked for closure. Toyworld Mag takes a closer look at the situation.
Toys R Us has filed a motion with the US Bankruptcy Court to extend the 16th April deadline for reviewing its non-residential property leases. In return for extra time when deciding whether or accept or reject leases, the company has “negotiated a package of consideration with the Creditors’ Committee that the Debtors and the Creditors’ Committee believe fairly compensates landlords for the extension.”
The news comes as it was revealed that the retailer has also hired a firm that specialises in evaluating stores for liquidation.
Expect more news later in the month.
