According to a new article at USA Today, Toys R Us will begin its liquidation process on Thursday, March 22, 2018. The site states that the current plan is for all stores to be closed by the end of June 2018. While we do know that the liquidation process starts tomorrow, we don’t know how steep the discounts will be or what product will be initially liquidated.
The timetable was disclosed Tuesday at a hearing in U.S. Bankruptcy Court in Richmond, Va. The toy superstore chain, which last week announced plans to dissolve its U.S. operations, came seeking court approval for its liquidation sale plan.
Some store may close earlier, he said, if inventory sells out faster.
The company’s distribution centers, which supply the stores, will close before the stores do, said Bill Kosturos, vice chairman of U.S. restructuring for Alvarez & Marsal, one of the companies advising Toys R Us in the liquidation. Otherwise, the operation is expected to take 14 weeks.
It looks like Toys R Us will only be around for a little longer. Get out and enjoy the sales, and make some memories at the greatest place on Earth to be a kid!