ToysRUs Canada Auction Is On April 18

Posted: Mar 29 2018, 4:08am CDT | by , Updated: Apr 11 2018, 4:44am CDT, in News | Toys

 
ToysRUs Canada Auction Is on April 18
Photo Credit: Getty Images

The Canadian ToysRUs unit will be auctioned off.

Next month, one of ToysRUs's most valuable assets will be auctioned off. Apparently, no buyer has been found for the ToysRUs business in Canada. The bankruptcy court has approved an auction for ToysRUs Canadian equity.

The auction will take place on April 18. Bids have to be submitted by April 13, 2018 at 5:00 pm ET. The winner of the auction will be announced on April 23.

Billionaire toy CEO Isaac Larian plans and other investors from the toy industry planned to purchase ToysRUs Canada and some US ToysRUs stores. Larian launched a crowd-funding campaign last week on GoFundMe that so far raised only around $50,000. The goal was to raise $1 billion. If the MGA Entertainment CEO will be among the bidders for the ToysRUS Canada unit is not known.

The ToysRUs stores will also be sold through an auction that is taking place today at 10 am ET. The list of qualified bids for the ToysRUs real estate has been published on Prime Clerk. Bidders for ToysRUs stores include Aldi, AVG Partners, Big Lots, and Target. There are only bids for 58 TRU stores, which appears rather short considering the 800 or so stores the toy retailer has.

A week ago, the ToysRUs liquidation sale started. Deal hunters have been disappointed so far from the modest savings. The deals in the ToysRUs liquidation sale will become more attractive, but the selection will be more limited as time goes by. Popular toys like Lego will never be super cheap. ToysRUs will rather put the Lego inventory back into the supply chain. The ToysRUs liquidation sale will end somewhen in June. ToysRUs continues to sell toys online at toysrus.com like nothing happened.

This story may contain affiliate links.

Find rare products online! Get the free Tracker App now.


Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News

Comments

The Author

<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.
Luigi can be contacted directly at ml@i4u.com.

 

 

Advertisement

comments powered by Disqus