Toys R Us tells workers it will liquidate and sell or close all stores

Reuters News Service

Toys R Us told employees Wednesday that it is planning to sell or close all of its U.S. stores, and that it will file liquidation papers this evening in advance of a court hearing scheduled for Thursday afternoon.

The company confirmed a Wall Street Journal report that Chief Executive Dave Brandon had shared the news with employees in a conference call. A spokeswoman for Toys R Us told The Record that Brandon told employees it was a sad day and that customers and others would be sad to see the brand disappear.

The decision to liquidate the company might not be the final chapter if a buyer surfaces who wants to buy some of the stores and operate them as an ongoing business. Many in the toy business believe there is room for a smaller version of Toys R Us.

Please click on the link from Joan Verdon and Charisse Jones, The (Bergen County, N.J.) Record and USA TODAY
 https://www.usatoday.com/story/money/business/2018/03/14/toys-r-us-told-employees-wednesday-planning-sell-close-all-its-u-s-stores-and-file-liquidation-paper/426292002/
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