Toys 'R' Us, the largest toy company in the United States, filed for bankruptcy protection in the US and Canada on Monday (September 18), due to fierce competition from electricity providers and long-term debt of more than $ 5 billion The

         But Toy R Us Asian companies said the business in Asia remains normal, including China and Singapore.

         Analysts said the toy sales in Singapore this year are expected to continue to grow despite the fact that toy bankruptcy claims in North America may cause retailers to feel uneasy.

         Toy R Us has 38 stores in 38 countries and 64,000 employees. Previously, according to informed sources, some of the suppliers of Toy R Us have cut shipments to the retailer.

         But the toy R Us plans to take full advantage of the current situation and reorganize in time to return in the year-end holiday season.

         "All the time it takes to happen is no longer worse anymore," said David Brandon, chief executive officer of Toys R Us, in a court paper. "He pointed out that there is an urgent need for the company to set up inventory for the holiday season, Quarter of the company accounted for 40% of annual revenue.

         US Wayne said the toy R Us has received more than $ 3 billion in bankruptcy financing from a consortium led by JP Morgan Chase and some existing lenders. Wayne also operates a chain of Babies 'R' Us.

         According to foreign media reports, the loan has been approved by the court, and to their suppliers to ensure that they will be provided for the holiday season to the toy city of Rugao building blocks and Barbie dolls will be paid.

         According to the US website of Toys 'R' Us, the company's origins date back to 1948, when Charles Lazarus opened a baby furniture store called Children's Bargain Town.

Do not intend to close the store, the Asian business is not affected

        Toy R Us does not intend to close the store and said its stores around the world will continue to operate normally.

Toys 'R' Us Asia said in a statement that the company is an independent legal entity that is financially independent of all other operating companies in the toy R Us.

        This is a joint venture between Toys 'R' Us Global (with 85% equity) and Fung Retailing (a subsidiary of Hong Kong's Fung Group), which holds a 15% stake.

        "We are a financially self-contained retail company, and our finance is very robust and the company will continue to grow and invest in this area on a large scale," said Andre Javes, president of Toys 'R' Us Asia.

       "Every year we will open new stores in all of our markets, especially in China, we are currently opening 135 stores in China and 22 stores in the coming weeks."

        Toys 'R' Us (Asia) has 11 stores in Singapore with 350 employees.

        Toy R Us in North America filed for bankruptcy protection and is the latest sign of the troubled retail industry. The industry has been influenced by electricity from stores and discount chains. But Singapore's toy retail market situation is not so bad.

        Market research firm Euromonitor International's report shows that over the past five years, the size of the toy and gaming market in Singapore year-on-year increase has increased.

        Last year, Singapore's traditional toy and gaming market was $ 202.5 million, an increase of 1.1 percent over 2015. The figure is expected to grow by 3.21 percent this year to $ 209 million. But as the size of the video game market continues to expand, the proportion of traditional toys and games in all toy and gaming markets is getting smaller, 36% last year, compared with 40% in 2011.

The bankruptcy crisis caused thousands of Hatchimals hatch eggs to be "euthanized"

        After the toy bank suicide bankruptcy protection, the company announced on Tuesday (19) that the company could have had no choice but to carry out "euthanasia" for thousands of Hatchimals hatch eggs.

        "Unfortunately, we will no longer be able to provide the necessary resources and care for these Hatchimals." Sam Muir, a spokesman for Toy R Us, said the company would be "humane" to handle Hatchimals toys across the United States, This is an important step in resolving the company's $ 5 billion in debt.

        "We will soon begin to terminate the unannounced Hatchimals, and any Hatchimals that have been coming from the shell will be put into sleep mode and will never reactivate." The remains of these hatching eggs will be cremated and properly buried.


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