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TRU Bankruptcy Update
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Following is an update on the Toys "R" Us Bankruptcy as of 2.28.18

 

Important Reminder – Claims Filing Deadline

The deadline for filing claims against Toys”R”Usunder the U.S. Chapter 11 case is April 6, 2018. View Bar Date Notice

 

Toys R Us UK files for Administration of Assets

Reports from BBC News in the UK indicated that the UK independent Operation had filed for protection and liquidation after unable to finance upcoming VAT tax payments.

 

Media Reports More Store Closings Likely

News Reports in the New York Times, Wall Street Journal and CNBC cite to possible closing of up to 200 additional stores in the U.S.

 

Grant Thornton, appointed by the Canadian Courts, Filed its Third Report as Monitor

On January 30, the Grant Thornton  filed  its Third Report of the Monitor. This report may be of interest to any Canada suppliers. Specifically, the report notes that claims filed under the U.S. Chapter 11 claims process do not apply to claims against Toys ”R”Us  Canada. However, it points out that the U.S. Chapter 11 claims process provides that claims against Toys ”R” Us Canada inadvertently filed under the U.S. Chapter 11 claims process will be provided to the Monitor and Toys ”R” Us Canada. According to the Report, claims against  Toys ”R” Us  Canada will have the same deadline as the U.S. claims, that is April 6, 2018, and that claims document packages will be sent to known creditors by February 8, 2018. See page 11 of the docket for details on the  claims  process. The Report of the Monitor also provides updated financial information about Toys ”R” Us  Canada.

 

Toys “R” Us Files  Statements of Financial Affairs

Toys “R” Us  filed its  monthly operating report for the period November 26 to December 23, 2017 on  January 31, 2018. View Docket Item No. 1658

 

Access bankruptcy case documents and information here.

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