Topeka Toys 'R' Us liquidation expected in next few days


KB Toys is counting on it.

Last week, Toys R Us Inc. announced it filed a motion in Bankruptcy Court to begin a wind-down of its USA business and liquidation of inventory in all 735 of the company's USA stores.

"My assumption is that there's about half a billion dollars worth of toys that have been produced for Toys "R" Us with no place to go", Strategic Marks president Ellia Kassoff told CNNMoney. We have seen the decline of big box retailers since the dawn of the digital age.

Kassoff said in a post on Linkedin that if the pop-up stores perform well, it's possible some locations could stay open permanently.

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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 loss of Toys R Us is gain for bargain-hunting shoppers.

"We are grateful for the hard work of Toys R Us staff during this very difficult period".

Bain Capital is the same organization that was involved in the leveraged buyout of Toys "R" Us that took it private back in 2005, as Business Insider reported.

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KB Toys began as a family-owned toy business in 1922, according to CBS. Recent data suggests that not only are online retailers grabbing market share, but toy sales in 2017 were down.

The company had filed for bankruptcy last fall.

In fact, data from NPD shows that the global toy industry in 2017 was the largest it has ever been.

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