While people are still coming to grips with the fact that Toys ‘R’ Us will be nothing but a memory before long, bargain hunters have been scouring for information on when the liquidation sales will begin.
It’s going to be sooner than you might expect.
Going out of business sales will begin at most U.S. stores on Thursday, the company said at a hearing in U.S. Bankruptcy Court Tuesday. They’re expected to run until the end of June, though some will conclude earlier as inventories sell out.
The mass liquidation event will join the ongoing going-out-of-business sales at 182 stores that began last month. Those locations should be shuttered for good by mid-April
Joseph Malfitano Partnersan, advisor for the beleaguered retailer who works with liquidation specialist Malfitano, said the sell-off would be “probably the largest retail liquidation in the country’s history.”
Over four dozen toy manufacturers have objected to the liquidation, saying they are owed some $450 million by Toys ‘R’ Us.
Ironically, the liquidation of Toys ‘R’ Us won’t mean the brand will disappear completely from the U.S. (much like there are still Blockbuster Video stores scattered here and there). The company hopes to keep 200 stores open here as part of a deal to sell its Canadian operations.