Toys ‘R Us Headed for “Imminent” Liquidation, Say Business Sources
We've been following reports of the last retail toy giant, Toys 'R Us, and their attempts to stay afloat.
Now, according to CNBC and other business networks and experts, liquidation of the company is 'imminent,' and papers could be filed as early as Wednesday, March 14.
CNBC cites sources late Tuesday saying the official paperwork to begin to sell off all company assets could be filed and completed by the end of Wednesday. Then, stores would receive their 'marching' orders and the liquidation signage will go up in stores.
This follows news from January that stores would be closing, including the one in Spokane. We will continue to monitor the situation, as this would affect the store located next to Columbia Center.
Toys 'R Us is the last national-international toy store chain, news of this liquidation sent toy stocks downward on Wall Street. Bloomberg reports this news comes after the company missed a debt payment, and soon afterward stopped returning calls to various national business media outlets.