Amazon looks into taking over Toys 'R' Us locations

Jeannie Matthews
March 20, 2018

For Toys R Us gift card holders, they now have 30 days to use their cards. More than 30,000 American jobs are at risk as a result.

Hawaii's Toys R Us stores will close May 14, according to filings from the state Department of Labor.

The company could not provide specifics, but liquidation dates may vary across stores.

Amazon is weighing up whether to buy sites from Toys R Us, reports suggested this evening, just days after the toy retailer announced plans to wind up its USA business.

Toys R Us was felled by a combination of too much debt and an antiquated business model that could not keep up with Amazon and Walmart. Global toy sales have been growing slightly each year, but at a slower pace than electronics and video games.

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Toys R Us filed for bankruptcy protection in September and announced a major restructuring deal in January amid slumping sales. A gift card's terms may allow the card to be used at another business location.

Schwartz said it's fortunate that the company gave customers advanced notice that it was closing.

Toys "R" Us is "holding back" on liquidating about 200 of its best performing USA stores in the hopes that it will find a buyer, CEO Dave Brandon told employees.

The company is owned by the private equity firms Bain Capital and Kohlberg Kravis Roberts and the real estate firm Vornado Realty Trust, which bought the company in 2005. The company has 735 Toys "R" Us and Babies "R" Us stores nationwide.

But it's unclear whether items purchased in stores will be eligible for return through the Toys "R" Us website after stores are shutdown.

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