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Toys 'R' USA may have to close all U.S. stores

11 March, 2018, 01:36 | Author: Kristen Ingram
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According to Bloomberg, the toy store chain was not able to find a buyer or reach a deal to restructure debt with its lenders.

The toy chain's U.S. division entered bankruptcy in September previous year, planning to emerge with a leaner business model and more manageable debt.

Toys R Us Canada has about 82 stores as well as an e-commerce site - making it about one-tenth the size of its American counterpart.

That became apparent on Monday when the stocks of two of the world's biggest toy makers tumbled in US trading.

If the event of a liquidation, "Toys R Us is not going to want to drag this out", Lopez-Castro said. But, since news began breaking that the company could ultimately liquidate entirely, the retailer has been eerily quiet.

"The toy industry remains in flux", Gerrick Johnson, industry analyst at BMO Capital Markets, said in a research note on Friday, noting toy industry executives were concerned about the sector's health in 2018.

The falling fortunes of Toys "R" Us mirrors that of other major retail chains, most of which have fallen prey to online competition from Amazon and other outlets.

In Jan. the company announced plans to close 180 stores, including a location in Kingston.

The company could be forced to close all remain locations if it files for Chapter 7 bankruptcy liquidation, which would wipe out the company's debt. The company's huge interest payments also forced it to use resources that could have gone toward improving technology and operations.

Mattel Inc., which makes toys including Barbie and Hot Wheels, saw its stock fall as much as 6.1 per cent.

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