Economy

Toys R Us may close all USA stores, reports indicate

Toys R Us may close all USA stores, reports indicate

Sources say Toys R Us is preparing to liquidate all of its stores, after failing to find a buyer, or being able to work out a new debt financing deal with lenders.

Toys "R" Us Inc.is preparing for liquidation and may close all of its USA stores, according to new reports.

In January, court documents revealed Toys "R" Us planned to shutter as many as 182 stores, including three in San Diego County. Weak holiday results have exacerbated concerns about the chain's ability to operate in the future.

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Toys R Us representatives have not commented on the possible liquidation.

The company, which is headquarter'ed in Wayne, N.J., began the year with more than 800 stores in the USA under both the Toys "R" Us and Babies "R Us brands". Things are also quickly deteriorating in many overseas divisions.

New Jersey- based Toys R Us filed for bankruptcy in September, bolstered soon after by a $3.1 billion loan. The goal was to renegotiate the company's $5 billion debt load, which it has carried since a leveraged buyout in 2005. Both its United Kingdom and European divisions have sought buyers in recent months.


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