Toys R Us will wind down its U.S. operations and liquidate the inventory of all 735 of its U.S. stores.
The company filed for bankruptcy in September 2017 and announced March 15, in addition to its U.S. liquidation, it is pursuing a reorganization and sale process for its Asian and central European operations. Stores in Australia, France, Poland, Portugal and Spain are considering what they will do with the news of this announcement.
"I am very disappointed with the result, but we no longer have the financial support to continue the company's U.S. operations," said Dave Brandon, chairman and CEO of Toys R Us. "We are therefore implementing an orderly process to shutter our U.S. operations and will pursue going concern sales or reorganizations of certain of our international businesses, while our other international businesses consider their options."
The company also said it is in discussions with a number of interested parties to combine 200 of its top performing U.S. stores with its Canadian operations. Toys R Us is working with advisors to minimize the impact of the U.S. liquidation on its international markets.