Liquidation sale to begin at Staten Island Toys R Us

Posted March 22, 2018

Simon Thomas, joint administrator and partner at Moorfields, said: "It is with great regret that we have made the hard decision to make 98 people redundant at the company's distribution centre in Coventry".

The chain, which was known to generations of children and parents for its sprawling stores and Geoffrey the giraffe mascot, announce last week it would shutter all of its 740 US locations.

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Toy's "R" Us will soon be no more, but another long-lost toy store could soon fill the void. "I have three children and definitely have done some shopping at Toys R' Us and Babies R Us", said Laurie Skiles, manager at The Nurturing Nest.

While we still believe Mattel's shares are significantly undervalued, we believe near-term headline risk surrounding the Toys "R" Us liquidation could continue to weigh on shares over the next several months before stability in share performance could resume.

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Toys R Us announced March 15 it is negotiating in bankruptcy court to close all 735 USA locations and liquidate inventory. The teen jewelry and accessories giant Claire's is another retail giant that has succumbed to financial troubles, declaring bankruptcy and announcing the closure of over 90 stores around the country. This was compounded by the fact that many of their vendors were hesitating to provide supplies for the company, stating their concern about receiving payment due to the large amount of debt Toys-R-Us had. The company filed for bankruptcy in 2004. The sales will start of on the lower end, around 25 percent, with an increase in discount happening in the coming weeks.

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