Toyworld Mag: Toys R Us seeks bankruptcy extension in USA

January 15, 2018

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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.

Tags
Toys 'r' Us

SourceToyworld Mag

Mark Newbold

Exploring the galaxy since 1978, Mark wrote his first fan fiction in '81 and been a presence online since his first webpage Fanta War in 1996. He currently contributes to ILM.com and SkywalkerSound.com, having previously written for Star Wars Insider, StarWars.com, Star Wars Encyclopedia, Build The Millennium Falcon, Starburst Magazine, Geeky Monkey, TV Film Memorabilia and Model and Collectors Mart. He is a four-time Star Wars Celebration Stage host (the only podcaster to have appeared on every Celebration podcast stage since it began in 2015), the Daily Content Manager of Fantha Tracks and the co-host of Making Tracks, Canon Fodder and Start Your Engines on Fantha Tracks Radio.

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Counting Down To:

May 2026

fri22may12:01 AM11:59 PMThe Mandalorian & GroguEvent ends in

Event Details

The Mandalorian and Grogu, announced as The Mandalorian & Grogu, is a Star Wars movie that started production in 2024. Directed by Jon Favreau and produced by Favreau, Kathleen Kennedy, and Dave Filoni, it takes place between the events of Episode VI: Return of the Jedi and Episode VII: The Force Awakens, focuses on the adventures of Din Djarin and Din Grogu, and will be a spinoff to the TV series Star Wars: The Mandalorian. The film was announced on January 9 that year on StarWars.com with a conceptual sketch by veteran illustrator Ryan Church, along with an announcement of a second season of the television series Star Wars: Ahsoka. A fourth season of The Mandalorian is also still in development.

On May 7, 2019, Disney revealed their future movie release schedule, including a set of three untitled new Star Wars films, one of which had a scheduled release date of December 20, 2024. The Star Wars Show also reported on the news on May 15. On July 23, 2020, after the onset of the COVID-19 pandemic, the film was delayed to December 19, 2025. After the start of the 2023 Writers Guild of America strike, Disney shifted their theatrical film release slate, with the film being pushed to its current release date of May 22, 2026. A film directed by Sharmeen Obaid-Chinoy occupied this release slot until The Mandalorian & Grogu was announced.

Star Wars Insider 224 revealed the initial film logo was the same as the one for The Mandalorian Season Three. In August 2024, during D23 2024, it was revealed that the film had entered production, and a new logo was revealed, in addition to a teaser that was shown to the audience. In August 2024, Sigourney Weaver revealed that she had joined the cast of The Mandalorian & Grogu.

Alongside the release of the movie, Millennium Falcon: Smuggler’s Run will be updated to include a new mission featuring Djarin, Grogu, Tatooine, Endor and Cloud City, which takes place off camera from the film.

Time

May 22, 2026 12:01 AM - 11:59 PM(GMT+01:00)

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September 2026

tue22sep12:01 AM11:59 PMLucas Museum of Narrative Art opening ceremonyEvent ends in

Event Details

The Lucas Museum of Narrative Art celebrates the power of visual storytelling. Founded by George Lucas and Mellody Hobson, the museum explores how images move us and shape our collective memory. From Frida Kahlo’s self-portrait to Norman Rockwell’s scenes of everyday life to Charles White’s portraits of dignity. Each invites reflection. Each tells a story.

Designed by Ma Yansong of MAD, the Lucas Museum is located in Exposition Park in the South Los Angeles region. The museum’s campus includes new green space designed by Mia Lehrer and her team at Studio-MLA. Inside the building, our galleries explore timeless themes—family, love, work, play, fantasy, and more. Additional spaces include two state-of-the-art cinematic theaters and dedicated areas for learning, dining, retail, and events.

George Lucas and Mellody Hobson share a conviction that illustrated stories connect people across cultures and generations. Their decades of collecting span iconic American painting and popular illustration, comics, and cinematic art.

Lucas, creator of the Star Wars and Indiana Jones franchises, and founder of the George Lucas Educational Foundation began collecting in college, when the only art he could afford was original comic art for $30. Over 50 years, that collection has grown to more than 40,000 works. “I could never sell my art,” Lucas says. “It just is not what I think art is. I think it’s more about an emotional connection with the work, not how much it cost.”

Hobson, in addition to managing Ariel Investments, is the former chair of Starbucks Corporation and serves as a director of JPMorganChase.

In 2010, Hobson and Lucas signed the Giving Pledge, a campaign and public promise by some of the world’s wealthiest philanthropists to give the majority of their wealth to charitable causes. The pair is committed to improving education, particularly through the arts. “We’ve always said we’re holding society’s money, which we fully intend to give back,” Hobson says. “This is how we’re doing it.”

Time

September 22, 2026 12:01 AM - 11:59 PM(GMT-07:00)

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February 2027

fri19feb12:01 AM11:59 PMStar Wars 50th Anniversary releaseEvent starts in

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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.