Toys "R" Us liquidation sales delayed; expected to begin Friday
(FOX BUSINESS) - Shoppers hoping to catch deals at Toys “R” Us or Babies "R" Us liquidation sales will have to wait a bit longer.
The company had said it expected sales to begin Thursday, but there has been a delay and now the faltering retailer says liquidation sales at most of its soon-to-close U.S. stores are expected to begin Friday.
The going-out-of-business sales will offer massive discounts as Toys “R” Us looks to shed its remaining inventory by June. The New Jersey-based company disclosed the timeline during a bankruptcy court hearing on Tuesday, the Bergen County Record reported.
The liquidation process is expected to take about 14 weeks to complete, though some stores reportedly could close sooner if inventory sells out. The toy retailer announced earlier this month that it would close or sell all of its more than 700 U.S. stores after failing to find a corporate buyer.
The planned wind-down was met with widespread criticism by Toys “R” Us vendors. Top partners Lego and Mattel are among some four-dozen vendors who raised objections, according to the Record.
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