May 9, 2018 / 11:29 PM / 9 months ago

U.S. Trustee says terms for Toys "R" Us transition services unclear

The U.S. government’s bankruptcy watchdog on Wednesday said a bid by Toys “R” Us Inc for a court order to help transition businesses the toy-store chain is selling to new owners should be slowed because terms for the work are still being negotiated.

Last week, Toys “R” Us filed court papers seeking to enter into transition services agreements for its international operations as it works on closing the $237 million sale of its Canadian business to Fairfax Financial Holdings Ltd. It is also seeking deals to sell its operations in Germany, Austria and Switzerland.

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