June 22, 2018

Amazon to buy Toys R Us?

21 March 2018, 07:58 | Lorenzo Hawkins

Toys R Us liquidation sales will begin as soon as this week. Getty

Toys R Us liquidation sales will begin as soon as this week.   Getty

Longtime retailer KB Toys is eyeing a return after Toys "R" Us filed for bankruptcy and announced last week that it is closing all of its stores.

Some short-term jobs are being offered at the Toys R Us store on Harry L Drive.

However, with Amazon under no pressure at all to expand its bricks and mortar presence quickly, the deal may not go ahead. Only days after Toys "R" Us announced it's shuttering all 735 of its USA locations, retro-revival entrepreneur Ellia Kassoff has revealed his company, Strategic Marks LLC, plans to give KB Toys a well-timed reboot.

Amazon gained about 450 stores with the surprise take-over of Wholefoods a year ago.

Amazon is reportedly going to buy the collapsed retailer's locations and turn them into its own facilities.

Toys "R" Us, meanwhile, may live on in some form.

Last week it was revealed that all Toys R Us stores in the United Kingdom will close in the next six weeks following the chain's collapse into administration. Its Canadian unit is up for sale, along with its operations around the world. Even Toys R Us, as crippled as it was, still sold more toys than Amazon. The division in the now being wound down.

The company's distribution centers, which supply the stores, will close before the stores do, said Bill Kosturos, vice chairman of USA restructuring for Alvarez & Marsal, one of the companies advising Toys R Us in the liquidation.

"We have a $14-$15m payment due that hasn't been paid", Isaac Larian, chief executive of Bratz dolls maker MGA Entertainment, said.

Bloomberg Technology suggests that this new space could be an opportunity to open a network of stores that place inventory closer to customers and increase the speed of delivery.

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