Liquidation sale at Toys R Us in Flint Township begins Friday

Toys R Us

Toys "R" Us announced earlier in March that it was going out of business, which would affect close to 30,000 employees, according to the Deseret News.

Toys R Us also announced that it is pursuing a reorganization and a sale process for its Canadian and global operations in Asia and Central Europe, including Germany, Austria and Switzerland.

Toys R Us hopes to start liquidations sales at most of its USA stores on Thursday and complete those sales by the end of June.

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Toys R Us stores in all these global markets are now open and serving customers. At the time, Toys "R" Us pledged to keep its stores open, but a "devastating holiday season" made lenders skittish about investing in the company.

Are you already missing Toys "R" Us? The company initially filed for bankruptcy last September, citing more than $5 billion in long-term debt.

Ellia Kassoff, founder of Strategic Marks and Leaf Brands, recently said on LinkedIn that his company has been working for the past six months to iron out a "sustainable model" for the toy seller, which liquidate about a decade ago after its second bankruptcy. "I have three children and definitely have done some shopping at Toys R' Us and Babies R Us", said Laurie Skiles, manager at The Nurturing Nest. The sales will start of on the lower end, around 25 percent, with an increase in discount happening in the coming weeks. They would reportedly turn the space into new locations to market their own products. All sales will be final on purchases during the liquidation process.

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