Toys 'R' Us Misses Vendor Payments

Toys 'R' Us Misses Vendor Payments

Toys R Us is preparing for liquidation and may shutter all of its roughly 800 USA stores, according to multiple media reports.

The payments stopped without explanation, said the people, who asked not to be identified because the matter is private. The company filed for bankruptcy protection less than six ago.

Toys R Us has not spoken publicly about closing all its USA stores, and a spokeswoman declined to comment on that possibility.

Toys R Us has missed payments to some suppliers in recent days as its USA division heads toward a likely liquidation, according to people with knowledge of the situation. In January, it was announced that 182 of its over 800 locations - almost 20 percent of its stores - would be closing come February, but before February was through, the news of a further 200 closures was announced.


The company has failed to find a buyer or reach a debt restructuring deal with lenders, leaving it with few options, people familiar with the situation said at the time. The announcement is expected to happen this week, when the retailer is scheduled to appear in court for a bankruptcy hearing, the Wall Street Journal reported.

A survey of about 850 independent retailers by the firm Advocates for Independent Business found that small retailers believe their "smaller size and greater understanding of their local markets" makes them more nimble than chains like Toys R Us and better at responding to shifts in the retail industry.

The retailer is expected to announce this week that it's liquidating its entire US operation, going out of business, and closing all of its 620 remaining stores.

Updates with moves in share prices of toymakers in final paragraph.

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