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 webpage Fanta War in 1996. He currently contributes to ILM.com, SkywalkerSound.com and Starburst Magazine, having previously written for magazines and sites including Star Wars Insider, StarWars.com, Star Wars Encyclopedia, Lightsabre.co.uk, Jedi News, Jedi.net, Build The Millennium Falcon, Geeky Monkey, TV Film Memorabilia, Model and Collectors Mart, Star Trek The Official Magazine, Star Trek: TNZ and StarTrek.com. He is the only podcaster to have appeared on every Celebration podcast stage since it began in 2015, hosting it four times, the EiC and 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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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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October 2026

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February 2027

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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.