Toys R Us Lease In Glen Burnie Goes To Auction

GLEN BURNIE, MD — The leases for several Toys R Us stores across the country went to auction last week in bankruptcy court, and the Glen Burnie location was one. It looks like the store on Ritchie Highway may have a new tenant soon.

The highest bidder for the Toys R Us lease in Glen Burnie was Ollie's Bargain Outlet.

A sale hearing is scheduled for Monday, June 25, in Richmond, Virginia, where Toys R Us will ask a judge to authorize the transfer of its leases that went to auction on June 11.

In the event that the successful bidder is not able to complete the sale at the June 25 hearing, the lease would go to the backup bidder. The Glen Burnie store's backup bidder was the landlord for the Centre at Glen Burnie, which is Goodman Properties.

There is a $78,821.57 outstanding debt associated with the Glen Burnie Toys R Us lease, based on court filings, which must be resolved.

Three Toys R Us leases in Maryland were included in the auction this month. In addition to Glen Burnie, the others were in Bel Air (highest bidder: Bel Air landlord) and Hagerstown (highest bidder: Ollie's Bargain Outlet).

Ollie's was the successful bidder in five leases:

• Hagerstown, Maryland
• Glen Burnie, Maryland
• Roanoke, Virginia
• Hattiesburg, Mississippi
• Mesquite, Texas

The bargain outlet store was the backup bidder in two cases: Bel Air and Oklahoma City.

For properties with leases that did not get claimed June 11, officials say those auctions remain open.

The sale of its leases is the latest in a series of legal actions after, amid slumping sales and climbing debt, New Jersey-based Toys R Us filed for bankruptcy in September 2017.

Liquidation sales began at all Toys R Us locations on March 23.

By May, the stores were no longer accepting reward coupons, gift cards and endless earnings as the business began winding down its operations.

The lease for the store at 6711 Ritchie Highway will be finalized on June 25 in Richmond, Virginia.

• Toys R Us Will Sell Or Close Remaining MD Stores: Report
• Bel Air Toys R Us Is Closing In Late June
• Toys R Us Liquidation Sales Delayed At MD Stores: What's Next?

Get more information about the status of Toys R Us on the company's restructuring page, which includes a link to its bankruptcy court filings.

Photo of the Glen Burnie Toys R Us by Elizabeth Janney.