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.

Facebook security chief is reportedly leaving over misinformation dispute
According to The Times report , Stamos initially told the company he wanted to leave in December, after his day-to-day duties were reassigned.

Legends of Tomorrow: Matt Ryan's Constantine joins season 4 as regular
Now it turns out that if the Waverider keeps flying, a certain rake at the gates of hell will be joining the team for good. Furthermore, he is voicing the character on the Constantine animated series (which airs on CW Seed).

Chinese Premier Li Keqiang appointed to second 5-year term
Mr Xi had been strengthening his grip on power in the past five years and was anointed in late 2016 as the CCP's "core" leader. A longstanding ally of President Xi, his elevation is being seen as a further consolidation of the Chinese leader's power.

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.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER