Millions of Americans who have visited Toys "R" Us countless times as children will be able to bid farewell to the beloved toy shop in the near future.
Back in September, the retailer filed for Chapter 11 bankruptcy to cover its $ 5 billion debt burden by restructuring businesses and operations. A destination after a disappointing holiday season
"While it has a chapter on bankruptcy, it is up to the debtors," said Gregory Plotko, partner in bankruptcy practice at Richards Kibbe. & Orb LLP. "I have the impression that the large group of creditors has not yet heard a convincing story and no white knight appears."
In January, the retailer announced 180 leases. After sources close to it, she prepares to liquidate all her US businesses.
Sources told The Wall Street Journal that the retailer's decision to close or sell them could come after a bankruptcy hearing in Richmond, Virginia, this week.