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Amazon eyes soon-to-be-vacant Toys R Us stores

21 March, 2018, 08:27 | Author: Shawna Walton
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Online shopping giant Amazon (NASDAQ:AMZN) is reportedly thinking about purchasing locations from the now-bankrupt Toys R Us, according to reports.

Last week, Toys R Us announced it would liquidate the inventory in its 735 USA stores.

Toys R Us had hoped to remain in business with about 700 stores still in operation but abruptly filed for bankruptcy liquidation last week.

Some trade vendors are demanding the company return any unpaid inventory rather than selling it and using going out of business sales to pay secured lenders and bankruptcy lawyers, at their cost, court papers showed. Although the stores have been open to Amazon employees for a couple of years, only 2018 has seen them slowly expand to become open to the public, as well.

If you own a Toys'R' Us credit card you are still liable for that debt when the store closes; as of now there is no word on when those cards will become inactive but we will keep you posted. Even Toys R Us, as crippled as it was, still sold more toys than Amazon.

Charles Tatelbaum, a bankruptcy lawyer with more than 50 years of industry experience, isn't as optimistic about the buyout options for its USA operation.

Toys "R" Us, Inc., toy and baby products chain, was among the America's largest private companies in 2017, with sales of $11.54 billion by fiscal year end 31 January 2017. In 2015, Bloomberg notes, Amazon considered buying some closed down Radio Shack locations, but ultimately opted against doing so. It announced last week it would close or sell all of its us locations. The Canadian business unit might live on in combination with select United States stores if a buyer can be found. Potential investors, like shoppers, seem to have lost interest in Toys R Us.

Toys "R" Us is present in 19 locations in the Middle East and North Africa region.

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