Toys “R” Us to Start Liquidating

Toys "R" Us (Wayne, N.J.) is preparing to close all of its U.S. stores. While the retailer has not officially announced details of when stores will begin liquidating, Business Insider reports that closing sales are expected to begin as soon as tomorrow at some stores.

Those sales are expected to last until all merchandise is sold and will be completed by May 14, according to government filings. Warehouses are expected to be shut down in that time frame, as well.

Consequently, employees will be paid through May 14 but will not receive severance pay.

The company is searching for a buyer for its Canadian business as well as for its 200 most profitable U.S. stores, and according to Bloomberg, Amazon (Seattle) is considering buying some of the bankrupt retailer’s stores. If that did occur, Amazon would not keep the Toys "R" Us name, but open and operate its own stores.