Vendors to Toys ‘R’ Us have resumed shipping top products, a bankruptcy lawyer said yesterday, allowing the retailer to stock its shelves ahead of the all-important holiday season, Reuters reported. “Inventory is on the shelves,” Joshua Sussberg, an attorney with the company’s law firm, Kirkland & Ellis, said at a U.S. Bankruptcy Court hearing in Richmond, Virginia, adding that the company was well-stocked with the “latest and greatest” in toys. Toys ‘R’ Us generates roughly 40 percent of total revenues in the fourth quarter, and industry experts have expressed concern over the big-box retailer’s ability to retain vendors and customers after its chapter 11 bankruptcy filing on Sept. 19. At the time of the filing, nearly 40 percent of its trade base had stopped shipments. Now, 100 percent of merchandise vendors that supply the top 20 products are actively shipping, followed by 49 of the top 50 vendors and 91 of the top 100, Sussberg said. Read more.
Sussberg is among the honorees for ABI’s inaugural “40 under 40” class. Click here to view the rest of the honorees who will be recognized at a special luncheon at ABI’s upcoming Winter Leadership Conference.
