Tuesday, April 24, 2018

Toys ‘R’ Us seeks approval to sell Canadian division

Chain Store Age

It appears likely Toys “R” Us’ operations in Canada will live to see another day.

The bankrupt retailer cancelled an auction for its assets in Canada and will seek approval from the court on Tuesday to sell them to Toronto-based Fairfax Financial Holdings Ltd. The investment firm had submitted a $236.8 million “stalking-horse” bid (C$300) to buy Toys “R” Us’ Canadian operations, which includes 82 stores.. . . more