In news that shouldn’t be all that surprising, word spread across the internet yesterday that Toys ‘R’ Us is prepping to liquidate its U.S. Operations. Bloomberg shared the following:
Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter.
While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days, said the people, who asked not to be identified because the information is private. Hopes are fading that a buyer will emerge to keep some of the business operating, or that lenders will agree on terms of a debt restructuring, the people said.
TRU has been one of the few go-to locations to find G.I.Joe product in recent years, so this is a big blow to those individuals that still enjoy the thrill of the hunt. For those of us that grew us as “Toys ‘R’ Us Kids”, this news is definitely heartbreaking. Let’s hope that TRU is able to fix its woes. What’s your take on this latest bit of disheartening news to hit Toys ‘R’ Us? Will you be happy to see them go, or do you hope they’ll dig out of the hole? Share your thoughts with us after the break on the Cobra Island Forums.
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