Dozens of toy suppliers object to Toys 'R' Us…

BBB Bureau Briefs: Gift Cards & Bankruptcy - Newschannel 6 Now | Wichita Falls, TX

Amazon said to be weighing up Toys R Us store buys

Senator Charles Schumer is calling on federal regulators to let customers redeem unspent "Toys R' Us" gift cards before the one time retail giant closes its USA stores.

As of this morning, Amazon has reportedly showed interest in buying the remaining assets of Toys "R" Us. The company acquired Whole Foods last summer, giving it locations from which to make food deliveries.

Toys "R" Us, which filed for bankruptcy previous year, announced last week that it expects to close all of its 735 stores in the US.

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According to Bloomberg, Amazon in 2015 considered making an offer for some RadioShack locations but did not.

Last week, Toys R Us announced it would liquidate the inventory in its 735 USA stores. It is also seeking approval for a series of U.S. liquidation procedures including a halt to more than $450m in supplier payments as part of a plan that experts told Reuters could be a death blow to some smaller toy makers.

Toys "R" Us has been holding out hope that an entity will buy the Canadian unit, which was in better shape financially than the USA business. The division in the U.K.is now being wound down.

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Fung Retailing did not elaborate on its plans for the Asian arm if its US-based partner Toys R Us Inc goes under.

"We have a $14-$15m payment due that hasn't been paid", Isaac Larian, chief executive of Bratz dolls maker MGA Entertainment, said. Larian has said that his group is also doing due diligence on the US stores, and hopes to keep some of them open.

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