AP
- Toys R Us is defending its plan to liquidate its US business in US Bankruptcy Court on Tuesday.
- More than 50 toy suppliers, including Mattel and Lego, have objected to the retailer’s plan to close or sell all of its US stores.
- Experts told Reuters that Toys R Us’ request to halt supplier payments of more than $ 450 million could cause many small toy makers to disappear.
Toys ‘R’ Us heads to U.S. Bankruptcy Court on Tuesday to defend its liquidation plan against an onslaught of objections from creditors, particularly suppliers demanding payment for thousands of toys ranging from Poopeez to Bratz.
More than 50 suppliers, including Barbie maker Mattel and Lego, have objected in some form to the proceedings by the storied toy retailer to shutter up to 735 U.S. stores and 30,000 jobs.See the rest of the story at Business Insider
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SEE ALSO: Toys R Us reveals closing dates for liquidating stores — and clearance sales will start this week
