Toys R Us Canada says it's business as usual amid reports that the retailer's USA counterpart is preparing to liquidate operations in the United States.
A spokesperson for Toys "R" Us declined to comment on the liquidation, and the New Hartford location could not be reached for comment.
But it had an additional burden that stacked the deck against it - close to $5 billion in debt resulting from a leveraged buyout in 2005.
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THE administrator to collapsed retailer Toys R Us is expected to begin closing stores and making staff redundant as early as next week.
Stores outside of the USA are not affected.
Can Toys "R" Us Canada survive if its USA parent company heads into liquidation and shutters its store network? In many cases, a product is tested at Toys "R" Us for a season, and then added to one of the mass-market chains. Hasbro and Mattel, the two largest companies in the sector, saw their stocks plunge by 3.5% and 7%, respectively. Claire's Stores Inc., the fashion accessories chain with a debt load of $2 billion, is also preparing to file for bankruptcy in the coming weeks, according to people familiar with the situation. Reuters said the company is still considering other options as well.
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Toys R Us started in 1948 as a baby-furniture store in Washington, D.C. Nine years later, founder Charles P. Lazarus switched the store's focus to toys and shifted operations to Rockville, Md.
The company was slated to close 180 stores within the coming months.
Toys R United States isn't alone. "You know it's a different vibe when you go inside of the store", says a father as he walked out with toys for his kids.
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