KB Toys to return?

Toys-R-Us

Toys R Us announced March 15 it is negotiating in bankruptcy court to close all 735 USA locations and liquidate inventory. The company initially filed for bankruptcy last September, citing more than $5 billion in long-term debt.

Ellia Kassoff, the founder of Strategic Marks LLC, said the company has "spent the last six months working on a sustainable model to bring back KB Toys the right way", adding that KB Toys will have to successfully compete with both big-box stores and online retailers.

"I am very disappointed with the result, but we no longer have the financial support to continue the company's USA operations", said Dave Brandon, chairman and chief executive officer of Toys R Us. We've reduced our Hasbro fair value by $3, to $97, and our Mattel fair value to $21.50 as we made three major changes to our 2018 outlook while Toys "R" Us liquidates.

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A Toys R Us distribution centre in the West Midlands is set to close, leading to the loss of nearly 100 jobs.

Meanwhile, toy makers are fretting, and retailers and rivals are rubbing their hands. FAO Schwarz, once a unit of Toys R Us, is plotting a reentry into physical retail after exiting a couple years ago with the closure of its (very expensive) Manhattan flagship. A, Ste. 200, Austin, and a Toys R Us store at 12901 N. I-35, Bldg. A representative of Babies R Us couldn't be reached about the timing of its inventory liquidation.

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