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Toys 'R' Us is liquidating business operations in US

Toys 'R' Us is liquidating business operations in US

The toy chain entered bankruptcy in September 2017 with plans to close some stores and emerge with a new business model.

While the situation is still fluid, a shutdown of the USA division has become increasingly likely in recent days, said those people, who asked not to be identified because the information is private, the Los Angeles Times reported Friday. The company is also considering other options, including a potential sale in bankruptcy if possible, according to the source.

Toys "R" Us's United Kingdom unit put itself in the hands of a court administrator after talks to sell the business fell apart.

Tiger Woods twirls his club after 'vintage' approach shot
Northern Ireland's Rory McIlroy three-putted the 18th hole and finished at 3-over 74, his fifth consecutive round above par. Fans lined both sides of every fairway, waiting hours just to get a glimpse of Woods in his first appearance at the event.

The company was slated to close 180 stores within the coming months. Locations in Albany, Clay, Clifton Park, Hamburg, New Hartford, Johnson City and Rochester were spared for the time being. However, the chain also announced plans to shutter more than 180 stores this year, or roughly 20% of its USA operations.

A new $3.1 billion loan was obtained to keep the stores open during the turnaround, but poor holiday sales defeated the effort, according to Bloomberg. The toy company had reportedly hoped that a buyer would swoop in to rescue the chain.


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