Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Toys 'R' Us prepares to liquidate operations - source

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2018 | 11:52pm CEST
Illustration photo of the Toys R Us logo

(Reuters) - Toys 'R' Us Inc is preparing for potential liquidation if its negotiations with creditors do not result in a deal that can help the struggling toy retailer to emerge from bankruptcy, a source familiar with the matter told Reuters on Thursday.

These talks are continuing and no decision has yet been taken. The company is also considering other options, including a potential sale in bankruptcy if possible, according to the source.

The company in January said it would shut about a fifth of its U.S. stores as it tries to emerge from one of the largest ever bankruptcies by a speciality retailer.

Toys R Us was hoping that strong sales during the key holiday season would boost its chances of clinching a deal with its creditors in bankruptcy.

Toys 'R' Us did not immediately respond to a request for comment.

The company has also struggled in Britain in recent years, resulting in Toys 'R' Us UK to go into administration, putting around 3,000 jobs at risk there.

The company is expected to report three-month earnings to the end of January later this month.

Bloomberg had earlier reported on Thursday that Toys 'R' Us was making preparations for a liquidation of its bankrupt U.S. operations.

(Additional reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak Dasgupta)

By Greg Roumeliotis

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
11:20pCanada's Trudeau under growing pressure to get NAFTA deal done
RE
11:18pGOVERNMENT OF CANADA : Tribunal Issues Determination of Reasonable Indication of Injury—Carbon Steel Welded Pipe from Pakistan, the Philippines, Turkey and Vietnam
PU
11:18pBenefit Gains Exceed Wage Growth, New Labor Data Show -- Update
DJ
11:16pNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
11:16pNEWS HIGHLIGHTS : Top Company News of the Day
DJ
11:13pTSX rises 0.71 percent
RE
11:13pCFTC U S COMMODITY FUTURES TRADING COMMISSION : Orders ICAP Capital Markets LLC to Pay $50 Million Penalty for Aiding and Abetting Attempted Manipulation of U.S. Dollar ISDAFIX Benchmark Swap Rates
PU
11:05pBOJ to keep rosy economic view despite trade perils; policy seen steady
RE
11:03pU S HOUSE OF REPRESENTATIVES COMMITTEE ON NATURAL : Bishop Statement on DOI’s Bureau of Land Management Waste Prevention Rule Proposal
PU
10:54pUtilities Down on Cyclical Rotation -- Utilities Roundup
DJ
Latest news "Economy & Forex"
Advertisement