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Report: Toys R Us hunting for buyers for British business

Toys R Us Inc. is looking for potential buyers for its U.K. business, Sky News reported Jan. 31, citing sources familiar with the situation.

One source told Sky News that Toys R Us, which filed for bankruptcy protection in September 2017, expects to strike a deal within weeks. The company's financial advisers at Alvarez & Marsal and Lazard have sounded out potential buyers for its U.K. business in recent days, the report noted.

The toy retailer employs 3,200 people in Britain, according to Sky News. The report also said it is unclear whether the buyer would be bound by the same pension commitments.