Toys R Us might be doing away with a lot more that its US and UK businesses. According to Reuters, the company also considers the sale of its Asian business. It ever already has big bids for it.
Reuters says Toys R Us has already received several bids of more than $1 billion each. They are for the ownership of 85% of Toys R Us’ Asian business.
This is inline with the original strategy of Toys R Us. The company is thinking about selling some non-US operations as well. This includes keeping some stake in the businesses.
Toys R Us wants to keep maintaining more profitable locations in Europe and Asia. Even with them remaining though, the company is still closing down all stores in the US and UK.
Toys R Us also says it’s in “advanced” discussions with a potential buyer for its business in Central Europe. Meanwhile, liquidation sales in the US are going better than expected, Toys R Us lawyer Joshua Sussberg says to Reuters. This means more money to be used to repay creditors.
So far, there’s still a lot of way to go, though. Toys R Us is going to need billions. Hence, the sale of big stakes in other, more profitable businesses and locations.