The Toys “R” Us receivables have received several non-binding offers to buy the Canadian division of the children’s toy retailer, according to US court documents.
While the toy distributor wants to cease operations, bankruptcy documents show that the debtors had reached more than 20 interested investors to sell the 82 stores across Canada.
Some investors signed a confidentiality agreement and had access to an electronic data room to post potential offers. Negotiations would be under way with some of them.
Debtors are trying to combine the sale of up to 200 of the best stores in the United States with Canadian branches, as President and CEO David Brandon said last week. Conversations took place on this proposal.
MGA Entertainment, a Californian company that designs Bratz dolls, confirmed last week that its leader, Isaac Larian, and affiliated investors had made an offer to acquire Canadian stores.
Toys “R” Us announced that it would close or sell its 740 stores and end its international operations.
It has received several non-binding offers for its activities in Europe and has called for offers in the Asia-Pacific region by the beginning of April.
Henry Lares is still early into his career as tech reporter but has already had his work published in many major publications including Tech Crunch and the Huffington Post. In regards to academics, Henry earned an engineering degree from Apex Technical School. Henry has a passion for emerging technology and covers upcoming products and breakthroughs in science and tech.