After announcing that liquidation sales would begin for all Toys R Us stores across the country, the major toy retailer is taking a pause.
Issac Larian , the billionaire behind the manufacturing and marketing of Bratz and LOL Surprise, is making a last minute bid to save the toy chain. Larian and other unnamed investors have pledged 200 million to keep the struggling toy giant alive. They are looking for more investors and starting a GoFundMe campaign to raise the additional 800 million to save the Toys R Us brand.
In light of this, many stores that had advertised liquidation sales have posted a paper sign on their doors saying the sales have been delayed. Some stores have stated they expect the sales to start Friday, while other stores have made no clarification on when the sales could be expected to continue.
Larian’s plan would save an estimated 400 stores of the 800 owned by Toys R Us, most likely the highest sales performers. In addition to still needing to raise over half a billion dollars, the plan will need to be approved by a judge. This would be an unusual case to go before a judge, as liquidation was previously approved in court on Tuesday.
Toys R Us declared bankruptcy in September, with 5 billion dollars in debt. In February, they announced the closing 182 stores, including some Babies R Us locations. These stores will continue to clearance their inventories, with some regions in the 60% price range.
Keep checking back here at Couponing to Disney as we bring you the latest updates from the clearance sales.
Kristen B. is wife to the best Prince around, mama to the spunkiest little princesses, and lover of all things Disney. She started her savings journey three years ago and is now dedicated to making her family’s wishes come true one coupon at a time. She is so excited to take her love of saving to the next level and share her journey with you! Click here to catch up on Kristen’s Savings and join in on your own savings adventure!