Toys R' Us and Babies R' Us close doors

Toys R Us

Toys R Us also announced that it is pursuing a reorganization and a sale process for its Canadian and global operations in Asia and Central Europe, including Germany, Austria and Switzerland. The company initially filed for bankruptcy last September, citing more than $5 billion in long-term debt.

Back in late January, the company announced plans to close just 170 Toys R Us and Babies R Us stores.

Strategic Marks bought the KB Toys brand from Bain Capital in 2016.

Some Toys "R" Us investors are mulling whether to salvage some stores as part of a slimmed-down version of the business, the New York Post reported.

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Toys R Us' liquidation includes a plan to close or sell all 735 of its remaining stores, but sales at these additional stores aren't set to begin until Thursday in at least some locations.

Toys R Us hopes to start liquidations sales at most of its USA stores on Thursday and complete those sales by the end of June.

Meanwhile, toy makers are fretting, and retailers and rivals are rubbing their hands. FAO Schwarz, once a unit of Toys R Us, is plotting a reentry into physical retail after exiting a couple years ago with the closure of its (very expensive) Manhattan flagship. The sale is expected to last about two or three months. "The risk is that consumers load up on toys that have price reductions of 30 to 90% [i.e., from Toys R Us closeout sales] and stock them away until the holiday gift giving season".

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