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Toys R Us begins US store closing sales

Toys R Us started its store closing sales at select U.S. branches including Babies R Us stores on Feb. 7, according to a release from financial advisory firm Gordon Brothers Group LLC.

The select stores offer up to a 30% discount on brands across all product categories. Store fixtures and furniture also are for sale.

Gordon Brothers clarifies that the closing discounts and promotions offered in the select locations are unique to them.

The closing sales are operated by an association that consists of Gordon Brothers, Hilco Merchant Resources LLC, Tiger Capital and Great American Group.

This move is in line with what the toy retailer disclosed in a Jan. 23 filing with the U.S. Bankruptcy Court for the Eastern District of Virginia. Toys R Us said it was planning to close outlets nationwide as an "overwhelming majority" of the company's stores failed to meet performance standards.

Toys R Us filed for Chapter 11 bankruptcy protection in September 2017 to explore options for the restructuring of its debt. Meanwhile, the company has earmarked 26 of its 105 stores in the U.K. for closure and is considering an IPO for its Asian business.