Business & Tech
Lawrenceville Toys R Us Liquidation Sale Not Announced Yet
Toys R Us confirmed it will be closing or selling all of its stores in the United States.
LAWRENCEVILLE, NJ — If you're wondering when you will be able to get in on the liquidation sale deals expected to occur as the Toys R Us prepares to close or sell all of its locations around the country, the answer for the local store is, "not yet."
The toy retailer last week confirmed reports it will sell or close 735 U.S. stores, including both its Toys R Us and Babies R Us locations, and will be liquidating its inventory and holding going-out-of-business sales. The confirmation comes six months after the New Jersey-based company filed for Chapter 11 bankruptcy protection in federal court.
The timelines for holding such sales has not been determined, Nicole Hayes, a Toys R Us spokesperson, said last week.
Find out what's happening in Lawrencevillefor free with the latest updates from Patch.
An associate who answered the phone at the Lawrenceville store Monday morning said the liquidation sale has not begun at that store as of Monday. He said it was "business as usual" for the time being.
"I am very disappointed with the result, but we no longer have the financial support to continue the company's U.S. operations," Dave Brandon, chairman and Chief Executive Officer of Toys R Us, said on Thursday. "This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years."
Find out what's happening in Lawrencevillefor free with the latest updates from Patch.
While U.S. operations are "subject to likely liquidation," Brandon said the Canadian, Central Europe and Asian divisions would be sold, according to a USA Today report. At a court hearing set for Tuesday, "There is going to be an invitation sent around the world that all of these assets are available."
If a buyer offers more than the liquidation value, there could be a sale, USA Today reported.
Brandon also said the company would maintain the Babies R Us registry and the Web stores for the time being in hopes someone might want to buy that asset.
The retailer has said it will honor its Endless Earnings points program points through Wednesday and gift cards will be honored through April 12. Read more here.
Photo: Getty Images
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