Eye on Retail: Going-out-of-business sales begin at Toys 'R' Us

It’s closing time—almost—for some Toys “R” Us stores.

The nation’s largest toy store retailer received court approval to move forward with its plans to shutter some 180 stores across its Toys “R” Us and Babies “R” Us banners nationwide. Liquidation sales at some of the locations started on Wednesday.

The sales, which are being operated by a consortium made up of Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group and Great American Group, will offer shoppers up to 30% discounts. Store furniture and fixtures will also be available for sale. The sales are expected to run through mid-April.

Toys “R” Us filed for bankruptcy protection in September. In January, it announced plans to close up to 182 stores as part of its reorganization plan.

“The reinvention of our brands requires that we make tough decisions about our priorities and focus,” stated Toys “R” Us CEO Dave Brandon in a note on the company’s website last month. “The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience you should expect from a market leader.”

Toys “R” Us’ 83 locations in Canada are not part of the scheduled store closings.