WORLD NEWS

Toys R Us liquidation sales in USA raise $184.7m, cost $7.8m

Published on: 9th July 2018

Sales generated $184.7m in revenue, with the liquidators charging $2.45m in commission and $5.4m in expenses.

Those numbers, which were revealed in documents filed recently with the Bankruptcy Court, include only the figures for the 155 stores that were closed by 28th May, and do not include the final group of stores, which closed their doors for good last week.

As reported by northjersey.com, the proceeds from those initial sales won’t make much of a dent in the billions that Toys R Us owes to creditors.

The liquidators are required to report the results of the sales within 30 days of concluding them. Bankruptcy rules require Toys R Us to let its creditors, who are vying for the revenue generated by the sales, know how much was raised through the sales of store inventory and fixtures.

The four liquidation companies involved – Hilco, Gordon Brothers, Tiger and Great American – reported that they collected a combined total of $181.7m in sales of toys, baby products and other merchandise, and a combined total of $2.97m for store fixtures.

The agreement gives the liquidators a 1.1% commission on sales of store inventory and a 15% commission on sales of furniture, fixtures and equipment, according to court documents. That amounted to a combined $2.45m for all of the liquidators.

The New Jersey Toys R Us and Babies R Us stores included in this report, and the first round of store closings, were in Bridgewater, Cherry Hill, East Hanover, Eatontown, New Brunswick, Paramus, Phillipsburg, Union, and Wayne.

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