• Liquidation sales at Toys "R" Us stores delayed, official says

    By: Kelly Healey

    Updated:

    ALTAMONTE SPRINGS, Fla. - From bikes to trains to video games, the biggest toy store there is… is closing most of its stores.

     

    Toys “R” Us filed for bankruptcy liquidation last week and will close or sell 735 stores.

     

    News also broke Thursday that Charles Lazarus, who founded what would become Toys R Us in 1948, died,  company officials said. He was 94.

     

    Huge liquidation sales were supposed to go into effect Thursday, but the sales have been delayed, Toys “R” Us officials said.

     

    In a statement, the company wrote: "They expected liquidation sales would start today but they were delayed for unforeseen circumstances. They will likely start tomorrow."

     

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    The Altamonte Springs and Kissimmee stores are on the closing list.

     

    The liquidation operation is expected to take 14 weeks, but some stores might close earlier if the inventory sells out faster.

     

    Toys “R” Us said that online competition from sites, such as Amazon, forced the company into bankruptcy.

     

    But officials said they hope to keep up to 200 U.S. stores open.

     

    The toy industry has seen an overall drop in sales because many children are switching to online video games.

     

    Meanwhile, Amazon announced it is considering buying some of the Toys “R” Us locations once the company goes out of business.

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