Toys R Us preparing to liquidate U.S. operations

Toys R Us is preparing to liquidate its U.S. operations sources say

Toys R Us is preparing to liquidate its U.S. operations sources say

According to the Bloomberg financial reporting service, a last-minute deal could still keep Toys R Us afloat, but the company has so far been unsuccessful in finding a buyer or restructuring its billions of dollars in corporate debt.

Toys R Us is preparing to potentially close all of its U.S. stores as part of a liquidation, according to several reports.

Toys "R" Us in January said it would shut about a fifth of its United States stores as it tries to emerge from one of the largest ever bankruptcies by a specialty retailer.

On Friday, Toys "R" Us Canada said that it had no information or comment on the reports about its USA parent.

But it had an additional burden that stacked the deck against it - close to $5 billion in debt resulting from a leveraged buyout in 2005.

In January, bankrupt Toys R Us Inc. announced plans to close 180 of its 900 stores.

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

In January, the company announced it would be closing more than 180 of its almost 880 US stores, including about two-dozen in California, affecting 4,500 workers.

Some Canadian subsidiaries of USA retailers have managed to survive their parent company's bankruptcy, however. But, since news began breaking that the company could ultimately liquidate entirely, the retailer has been eerily quiet.

The same CNN report says that Amazon is pushing toy prices lower, hurting not only Toys "R" Us, but Target and Walmart toy sales as well.

In the metro-east, Toy R Us and Babies R Us are located on Commerce Lane in Fairview Heights. Receiving debtor-in-possession financing and bankruptcy protection, Brandon said, would "ensure the iconic Toys R Us brand stays viable for years to come". Hasbro fell more than 3 percent, while Mattel stock declined almost 5 percent.

There are about 1,600 Toys R Us stores in the world, about half of which are in America.

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