Regular customers Toys «R» Us is to find a new place to buy toys. In connection with the debt obligation of $4.9 billion, the company is contemplating a full liquidation business in the United States. According to the Wall Street Journal, citing informed sources, the final decision will be made next Monday. It depends on the outcome of the court hearings in the bankruptcy case.
Initially, the trading network was planned restructuring aimed at avoiding bankruptcy. The reduction is not supposed to exceed 180 shops and 20% of the total. In February, the retailer launched a big sale in preparation for closing.
Now the ultimate fate of Toys «R» Us is in the hands of creditors and it depends on their requirements. Note that, despite annual revenue of more than $11 million, the firm for 5 years does not make a profit, paying high interest rates on loans.
The news about the possible closure had a negative impact on the suppliers of toys. According to CNN Money on Friday, shares of Mattel lost 7% of the cost, Hasbro — 3.5%, Jakks Pacific — 5%, and the company Lego reported a drop in sales for the first time in 13 years.
