Toys R Us Starts Going-Out-of-Business Sales in NJ
TRENTON — Wednesday is the beginning of the end for eleven Toys R Us and Babies R Us stores in New Jersey.
The company's Chapter 11 bankruptcy plan was given final court approval on Tuesday, clearing the way for about 180 stores to close.
"Not only will the sale provide loyal customers from coast to coast the opportunity to purchase their favorite products at significantly lower prices, it will also include new merchandise at even deeper discounts," the companies running the sales said in a statement.
Store furniture and fixtures will also be available for purchase.
Chairman and CEO David Brandon said at the time of the initial bankruptcy filing last fall that it would provide a path for the company and its investors to work with its debt holders and other creditors on restructuring the debt that was beleaguering the pioneering toy retailer.
Several locations on the original list scheduled to be closed were spared in the final list, including the Eatontown location.
Toys R Us:
Babies "R" Us:
- Cherry Hill
- East Hanover
- Mt. Olive
- North Brunswick
Earlier this week, Bon-Ton filed for bankruptcy. It is a a century-old department store that survived the Great Depression. It announced plans to close 47 stores as part of a plan to restructure $1 billion in debt. One Bon Ton store at the Phillipsburg Mall is scheduled to close.
Bon Ton's remaining New Jersey store is in Brick.
The retailer also operates Bon-Ton, Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s and Younkers stores.
Material from the Associated Press was used in this report.