February 22, 2018

Retail Dive quotes Keith Owens on Toys R Us bankruptcy deal

1 min

Keith Owens was quoted in Retail Dive on February 22, 2018, about Toys R Us Inc.'s future decisions after filing for bankruptcy. The potential actions could include closing an additional 200 stores and laying off a "significant portion" of its corporation staff.

"First and foremost, they had to focus on supplies," Mr. Owens, said in an interview. "They had to make sure the supply line was not disrupted, make sure leases were not terminated. The biggest push in the first several months was that and getting through the holiday season."

Owens described the deal as a "pretty creative and practical solution" that allows Toys R Us more time to review its portfolio and make critical decisions during the Chapter 11 window.

In further remarks to the reporter, Owens said, "In most cases, suppliers want to do business with a reorganized entity."