ToysRUs Rumored To Prepare For Shutdown In US

Posted: Mar 9 2018, 3:18am CST | by , Updated: Mar 12 2018, 11:50am CDT, in News | Toys

ToysRUs Rumored to Prepare for Shutdown in US
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Troubled toy retailer ToysRUs is preparing for the worst.

ToysRUs is struggling to find a buyer or find a deal with lenders on its debt. According to sources of Bloomberg, the toy retailer is preparing for the liquidation of its US operations. This would mean that all ToysRUs stores close.

On Monday, March 12, ToysRUs is scheduled to appear in bankruptcy court as part of its September 2017 Chapter 11 filing. This could be a crucial moment for the toy retailer. Update: We just checked the case document for the court hearing and its actually rescheduled to March 15 2 pm ET.

From the filing: "All matters scheduled to be heard at the omnibus hearing set for March 12, 2018 at 2:00 p.m. are being adjourned to March 15, 2018 at 2:00 p.m. and that all matters set for the omnibus hearing on March 12, 2018 have been removed from the Court’s docket."

The likelihood of a shutdown of all stores has become more likely in recent days say people familiar with the matter. The ToysRUs stores in the UK are already closing down and sell everything in stores this month.

ToysRUs filed for Chapter 11 bankruptcy protection in September of last year. The beloved toy retailer has already closed every 5th store. Now there is a chance that ToysRUs stores will be history. ToysRUs was founded in 1948 as a baby furniture store.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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