Toys R Us Canada to be Auctioned Off April 18th, 2018

Toys R Us Canada to be Auctioned Off April 18th, 2018

Wednesday, March 28th, 2018 12:06pm CDT

Category: Company News
Posted by: william-james88   Views: 13,621

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Toys R Us has now submitted a document stipulating the details for the purchase of the Canadian equity sale.

What is interesting here is that only the Canadian equity is specified, meaning that there is interest for Toysrus Canada, enough to have an auction, but no indication of the 200 US stores Toys that were part of previously discussed deals. The auction itself will take place on the 18th of April at the offices of Kirkland & Ellis LLP, located at: 601 Lexington Avenue, New York, NY 10022. And the 23rd, just a few days after, is when the successful bidder will be revealed.

There are a few more dates and conditions involved so if you want to own this lucrative toy store in a country with minimal competition for that sector, here are the dates you need to be aware of:


Bid Deadline: April 13, 2018, at 5:00 p.m., prevailing Eastern Time, is the deadline by which all bids must be actually received pursuant to the Bidding Procedures.

Notice of Qualified Bid Deadline: April 16, 2018, at 5:00 p.m., prevailing Eastern Time, is the date and time by which the Debtors shall notify the Bidders whether their Bids are Qualified Bids.

Auction: April 18, 2018, at 10:00 a.m., prevailing Eastern Time, is the date and time by which the Auction, if needed, will be held at the offices of Kirkland & Ellis LLP, located at: 601 Lexington Avenue, New York, NY 10022. The Debtors shall send written notice of the date, time, and place of the Auction to the Qualified Bidders no later than two business days before such Auction, and file a notice of the date, time, and place of the Auction with the Court no later than two business days before such Auction and post such notice on the Debtors’ Case Website: http://www.cases.primeclerk.com/toysrus. The Debtors may modify, in consultation with the Consultation Parties, the date, time, and place of the Auction by providing written notice to Qualified Bidders and filing a notice with the Court so long as such notice is no later than two days before the Auction.

Sale Objection Deadline: if applicable, April 16, 2018,3 at 5:00 p.m., prevailing Eastern Time, is the deadline to object to the Canadian Equity Sale.

Hearing to Designate Successful Bidder: if applicable, April 23, 2018, as the date by which the Debtors shall seek approval from this Court to designate the Successful Bidders in connection with the Canadian Equity Sale.


Transformers News: Toys R Us Canada to be Auctioned Off April 18th, 2018

Credit(s): prime clerk


This article was last modified on Wednesday, March 28th, 2018 12:39pm CDT

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Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948854)
Posted by Fires_Of_Inferno on March 28th, 2018 @ 12:31pm CDT
I, for one, am excited for the day when I can call Toys r' Us a quality Canada-only store, and can convince younger generations that it was always this way. :D :CON:
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948861)
Posted by Giant Purple Griffin on March 28th, 2018 @ 1:24pm CDT
Can I use a 20% off eBay coupon if I win this auction?
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948870)
Posted by Galactic Prime on March 28th, 2018 @ 2:28pm CDT
Whoever buys the Canadian chain needs to seriously upgrade the Saint John, NB store
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948927)
Posted by dragons on March 28th, 2018 @ 6:14pm CDT
That’s post this auction like any of us can afford to buy stores if we didn’t buy toys our whole life we still couldn’t afford it it’s good it’s be auction off good news to read about none of us is that rich
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948965)
Posted by Editor on March 28th, 2018 @ 9:50pm CDT
I for one look forward to seeing who the new corporate overlords will be.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1948967)
Posted by BombshellDaBug on March 28th, 2018 @ 10:03pm CDT
I look forward to the day where someone buys Toys R Us Canada for the low price of $10 and a used napkin.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949042)
Posted by Rated X on March 29th, 2018 @ 8:14am CDT
BombshellDaBug wrote:I look forward to the day where someone buys Toys R Us Canada for the low price of $10 and a used napkin.

I bid $11 and a used toilet paper. Any counter offers?
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949044)
Posted by Octobotimus on March 29th, 2018 @ 8:22am CDT
if only the #savetoysrus thing actually worked. allwell, goodbye toysRus.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949204)
Posted by Qwan on March 30th, 2018 @ 3:37am CDT
After a long, upsetting demise over the last few months, the next sad chapter in Toys R Us' decline has come to pass. Visitors attending Toys R Us' website will now notice a pop-up window upon loading the site, noting that the website has been "shut down for any further purchases" - essentially, the company is no longer accepting online orders via their website. Following that is a link to a sparse new website, goodbuytoysrus.com, through which users can simply track the liquidation sales at all brick-and-mortar locations around the US with a store locator.

The wording of their message does seem to imply that Toys R Us will still honor any unfulfilled online orders placed before this occurred, but there's been no official word one way or the other on that front, so further confirmation is awaited there.

Check below for the full message, and let us know if this will affect your plans at all by posting in the Energon Pub. As always, stay tuned for more Transformers news, however disappointing it may be.

Thanks for visiting. We have shut down the website for any purchases but our brick and mortar stores are open and holding going out of business sales. You can keep up-to-date with this historic sale at http://goodbuytoysrus.com. We encourage you to stop by your local store and take full advantage of the deep discounts and deals available. Thank you for your business and support over the years.

Sincerely, Toys"R"Us and Babies"R"Us teams.

Image
Image
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949208)
Posted by Emerje on March 30th, 2018 @ 4:40am CDT
So I wonder where all of the online and warehouse stock is going to end up? :-? Probably wont be going into the closing stores. I feel like liquidation stores big and small are going to be amazing come the holiday season. I'm really looking forward to seeing what shows up at the local salvage stores come October or so.

Emerje
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949236)
Posted by Kyleor on March 30th, 2018 @ 8:52am CDT
Rated X wrote:
BombshellDaBug wrote:I look forward to the day where someone buys Toys R Us Canada for the low price of $10 and a used napkin.

I bid $11 and a used toilet paper. Any counter offers?


$11.25, USD, and unused toilet paper, triple ply ;)^
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949239)
Posted by Immortal Starscream on March 30th, 2018 @ 9:02am CDT
i had never picked up grotusque, and the website had him in stock. so when i got paid and had the money to buy him, i went online and found this. bad things come to those who wait lol
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949357)
Posted by Megatron Wolf on March 30th, 2018 @ 4:17pm CDT
Kyleor wrote:
Rated X wrote:
BombshellDaBug wrote:I look forward to the day where someone buys Toys R Us Canada for the low price of $10 and a used napkin.

I bid $11 and a used toilet paper. Any counter offers?


$11.25, USD, and unused toilet paper, triple ply ;)^


$12.01 in cash a half empty box of tissues and 1 sheet of bounty paper towel, try and beat that offer
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949368)
Posted by Galactic Prime on March 30th, 2018 @ 5:07pm CDT
I'll bid a Box of Costco sized tissues for all you Americans to wipe your tears away because Canada is going to keep having TRU.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949379)
Posted by -Kanrabat- on March 30th, 2018 @ 5:30pm CDT
Galactic Prime wrote:I'll bid a Box of Costco sized tissues for all you Americans to wipe your tears away because Canada is going to keep having TRU.


I'll add this.


Image
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949425)
Posted by Ultra Markus on March 30th, 2018 @ 9:21pm CDT
the last thing online i got was TR arcee and the last thing i got at the store was the Chaos on Velocitron set that was toward the holidays but since then every time i go in there they are either always out of POTP and masterpiece stuff or only have the shelf warmers i already have but always too much of the last night and robots in disguise merchandise
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949426)
Posted by zipper on March 30th, 2018 @ 9:23pm CDT
My TRU store abruptly today. I was there last night and there were some empty shelves but still lots of merchandise (including Cybertron). I only picked up a couple things and planned on going tomorrow to get a couple more but I just found out it's permanently closed today. I would have bought a lot more had I known they were closing today. I'm bummed.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949432)
Posted by william-james88 on March 30th, 2018 @ 10:10pm CDT
-Kanrabat- wrote:
Galactic Prime wrote:I'll bid a Box of Costco sized tissues for all you Americans to wipe your tears away because Canada is going to keep having TRU.

I'll add this.
Image

:lol: I was making terrible jokes at the expense of all my american compatriots today with my wife when I strolled into a fully stocked TRU in Canada that was alive and well.

And picked these up for a friend:

Image

Toys the US never got at retail from a store the US no longer has.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949435)
Posted by chuckdawg1999 on March 30th, 2018 @ 10:16pm CDT
You've got the touch Willie, you've got the power.
Re: Toys R Us Canada to be Auctioned Off April 18th, 2018 (1949446)
Posted by Emerje on March 30th, 2018 @ 11:14pm CDT
Thought about taking the journey down to the one remaining TRU in the state next week while I'm on vacation, but it isn't showing up on the store locator. Either the locator is broken or they abruptly closed down all of the stores in Maine, New Hampshire, and Vermont, the nearest one to me is in Massachusetts now.

I guess I can't be too surprised, they probably don't have any staff left working in them. I found a local article talking about how they've always had retention issues and have had a parade of other stores' recruiters coming in and leaving their business cards in the break room recently.

1352672_916842-20180322_ToysRUs_car-906x1024.jpg


Emerje

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