Toys ‘R’ Us gets bids for Asian biz

ReutersCHICAGO (Reuters) — Retailer Toys ‘R’ Us has received multiple bids of more than $1 billion for an 85 percent stake in its Asian business as the bankrupt company moves ahead with plans to sell some non-U.S. operations, its lawyer Joshua Sussberg said on Wednesday.

Toys ‘R’ Us, once the largest U.S. toy retailer, abandoned last month a plan to emerge from U.S. Chapter 11 as a slimmer, reorganized company after a dismal holiday sales season.

The company has said it will try to maintain more profitable locations in Europe and Asia as an on-going business while it liquidates its U.S. and British operations.Speech

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