Toys ‘R’ Us Asia business not affected by bankruptcy: company

Source:Global Times Published: 2017/9/20 15:13:39

Toys "R" Us's Asia unit is not part of the company's financial restructuring, and its stores across Asia are open for business, the company said in an announcement sent to the Global Times on Wednesday.

Toys "R" Us (Asia) Ltd is a joint venture owned approximately 85 percent by Toys "R" Us Inc and 15 percent by Hong Kong-based Fung Retailing Ltd. It operates as a separate legal entity and is financially independent from all other Toys "R" Us operating companies around the world, the company said.

"Toys 'R' Us (Asia) is open for business and continuing to serve our customers as we always do. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region. Every year we are opening new stores in all our markets and particularly in China where we now operate over 135 stores and will be opening another 22 in the coming weeks," Andre Javes, president of Toys"R"Us (Asia) Ltd, was quoted as saying in the announcement.

The company's stores in Beijing are operating normally on Tuesday night. An employee at Toys 'R' Us's store in Chaoyang Joy City in the eastern side of Beijing said that the store receives quite a number of customers every day.


Posted in: COMPANIES

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