No Going Out Of Business Sales At Eatontown Toys R Us Store, Yet

EATONTOWN, NJ - Hold your horses.

If you were planning on heading down to the Toys R Us store here at 137 Route 35 North for some liquidation sales deals, you'll have to wait, for now.

The manager at the store, who gave her name only as Susan, said the only sales going on at the store right now are the usual weekly sales, not liquidation sales. She did say the store will close eventually.

The Eatontown store was granted a reprieve back in early February, when the company decided to keep it open for the near future. The Eatontown store was one of a handful that were apparently at least temporarily spared.

But things have changed since then.

The toy retailer last week confirmed reports it will sell or close 735 U.S. stores, including both its Toys R Us and Babies R Us locations, and will be liquidating its inventory and holding going-out-of-business sales. The confirmation comes six months after the New Jersey-based company filed for Chapter 11 bankruptcy protection in federal court.

The timelines for holding such sales has not been determined, Nicole Hayes, a Toys R Us spokesperson, said last week.

"I am very disappointed with the result, but we no longer have the financial support to continue the company's U.S. operations," Dave Brandon, chairman and Chief Executive Officer of Toys R Us, said on Thursday. "This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years."

While U.S. operations are "subject to likely liquidation," Brandon said the Canadian, Central Europe and Asian divisions would be sold, according to a USA Today report.

"There is going to be an invitation sent around the world that all of these assets are available," he said.

If a buyer offers more than the liquidation value, there could be a sale, USA Today reported.

Brandon also said the company would maintain the Babies R Us registry and the Web stores for the time being in hopes someone might want to buy that asset.

The retailer has said it will honor its Endless Earnings points program points through Wednesday and gift cards will be honored through April 12. Read more here.

With reporting by Daniel Hubbard, Patch

Logo: Courtesy of Toys R Us