(Reuters) – Toy retailer Toys R Us Inc on Thursday asked the U.S. Bankruptcy Court for approval to stop paying all of its suppliers while it tries to line up buyers for its international business ahead of a planned liquidation of its U.S. operations.
The iconic toy stores plan to liquidate inventory and shutter or sell its U.S. stores has put 30,000 jobs at risk and left vendors wondering where to send merchandise stuck on ships and trucks, and whether their invoices will ever get paid, lawyers said at a court hearing on Thursday.
As shoppers flock to Amazon.com Inc and children choose smartphones and screens over toys, Toys R Us has struggled to boost sales and service debt following a $6.6-billion leveraged buyout by private equity fir…
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