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Toys R Us in talks to sell Canadian business as it shutters U.S. operations
TORONTO – Toys R Us is in talks to sell its entire Canadian business as it works to shutter its U.S. operations.
Toys R Us Canada says the U.S. company is seeking approval in its Chapter 11 proceedings of a process for the sale of its equity interest in the Canadian business.
California-based toy company MGA Entertainment Inc. has said it has submitted a bid for the Canadian stores.
Toys R Us Canada's business is managed in Canada and operates autonomously from the U.S. operations.
The Canadian business says it remains committed to serving its customers at its 82 stores across Canada, which remain open for business.
Toys R Us CEO David Brandon has said the company will try to bundle its Canadian business with about 200 U.S. stores, and find a buyer.
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