Toys'R'Us Iberia Real Estate requests the bankruptcy to preserve its assets under current management. The Spanish company, which has 26 properties owned by the group in the Iberian Peninsula, intends to retain its assets and expedite a possible sale.
The rest of the stores of the brand are still operating normally, as reported by the company itself. "The rest of the companies of the Toys'R'Us Iberia Group have continued their activity and have already begun the necessary steps to attract interested parties in the acquisition of the group in Spain and Portugal," the US arm of the company said. Toys 'R' Us has 53 stores in Spain and about 1,600 employees.
On March 15, the group announced the liquidation of its business in the United States, news that caused Toys 'R' Us Iberia to begin studying its viability in the domestic market and to consider the possibility of selling its business in Spain.
Currently, the toy group also plans to close its stores in other countries such as France, Poland and Australia, having started a few days ago with the process of closing stores in the United Kingdom.
The above article was written and published in Spanish and has been translated into English. Click here to read the original article.
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