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Report: Target, other retailers to bid for Toys R Us stores


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Report: Target, other retailers to bid for Toys R Us stores

Retailers including Target Corp. and ALDI Einkauf GmbH & Co. oHG are among the potential buyers for several Toys R Us Inc. stores, CNBC reported March 28, citing court documents.

The troubled toy retailer began liquidation sales for its 735 U.S. stores on March 23.

Target and Aldi both are looking at a site in Kendall, Fla., while discount retailer Big Lots Inc. is bidding on five stores — located in Fresno, Calif.; Exton, Pa.; Durham, N.C.; Woodbridge, Va., and Indianapolis.

Golf & Tennis Pro Shop Inc., which owns PGA Tour Superstore, is vying for the same Indianapolis store as Big Lots, as well as a store in Vernon Hills, Ill.

Other potential bidders include Ashley Furniture, Shoe Station, and Fit Factory.

Real estate investment trusts Federal Realty and Urstadt Biddle have expressed interest in a store in Emeryville, Calif., while many privately owned real estate firms and equity groups also seek to acquire some of Toys R Us' sites.

An auction of these properties is set to begin March 29. Toys R Us has until April 12 to seek approval for the property sales from the Richmond bankruptcy court, according to the court filings.

Bloomberg News previously reported that Inc. is looking into buying some locations from the bankrupt toy retailer.

Toys R Us, which sought Chapter 11 protection in September 2017, plans to sell or close all of its stores in the U.S. and wind down its U.K. operations.

Previously, MGA Entertainment Inc. CEO Isaac Larian told Bloomberg that he would put $100 million toward buying some of Toys R Us' assets.