Toys “R” Us Inc. has officially closed its U.S. operations, but two key sales are still ongoing for the troubled retailer as it tries to find buyers for its intellectual property and Asian business, WSJ Pro Bankruptcy reported. Despite court papers and lawyers touting robust interest and lucrative bids, the auctions have yet to take place as there have been considerable delays to the sale timelines. In April, weeks after Toys “R” Us announced it would close its more than 800 stores in the U.S. and wind down its business, company attorneys said during a court hearing that the Asian business was beckoning bids of more than $1 billion. Interested bidders were said to be looking to buy an 85 percent stake in the Asian operations. The Asian business, although often brought up during court hearings, went without an official bid, until last week.
