Toys“R”Us, Inc. today affirmed that the Company’s approximately 1,600 Toys“R”Us and Babies“R”Us stores and e-commerce sites around the world are open for business and are continuing to offer customers great service and a curated assortment of merchandise in the toy and baby categories.
Toys“R”Us, Inc. and certain of its subsidiaries are implementing a court-supervised process in the United States and Canada that will allow the Company to restructure its finances while continuing normal business operations. The Company’s operations outside of the U.S. and Canada, including its operations in Europe and Australia and its approximately 255 licensed stores and joint venture partnership in Asia, which are separate entities, are not part of the Chapter 11 filing and CCAA proceedings.
The Company expects this process will enable it to restructure its outstanding debt, which will provide greater financial flexibility to invest in the continued growth of the Company and build on its position as the best toy and baby retailer in the world.
“We are confident that we are taking the right steps to ensure that the iconic Toys“R”Us and Babies“R”Us brands live on for many generations,” said Dave Brandon, Chairman and Chief Executive Officer. “Our customers around the world can continue to count on an outstanding shopping experience and excellent service whenever, wherever and however they choose to shop with us. As the holiday season approaches, our global team members are ready to serve the millions of kids and families who will be shopping with us.”
Toys“R”Us is committed to working with its vendors around the world to help ensure that inventory levels are maintained and products continue to be delivered in a timely fashion. Additional information can be accessed by visiting the Company’s restructuring website
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