Toys R Us receives several $1bn bids for Asia unit

The toy giant has received multiple $1bn bids for the Asian arm of their business as US and UK operations are shut down.

Toys R Us lawyer Joshua Sussberg, from Kirkland and Ellis, told a US bankruptcy court hearing on Wednesday that several bidders were interested in buying an 85 per cent stake in the firm’s Asian unit.

The firm is also said to be closing in on a deal for its central Europe operations.

Online shopping seems to have taken a looser grip on these territories, as the toy chain’s brick and mortar business in both regions has been described as healthy.

Toys R Us filed for bankruptcy in September 2016, owing $5bn to creditors. In March, MGA boss Isaac Larian launched a crowdfunding campaign to save Toys R Us’ Canadian operations via GoFundMe.

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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