PARAMUS, N.J. - Raymour & Flanigan Furniture, the largest furniture retail chain in the Northeastern U.S., has bid $1.3 million to take over the lease of a Toys R Us store in New Jersey.
The bid was the third-highest received in an auction for 157 Toys R Us locations throughout the U.S. The bid for the 38,000-sq-ft store now must be approved by the court in an April 12 hearing.
Toys R Us filed for bankruptcy last September and announced March 15 that it would liquidate entirely, and sell all of its U.S. and U.K. stores. The fate of the company's Canadian locations is still uncertain.
Raymour & Flanigan sells home furniture including living room, dining room and bedroom furniture and mattresses. The company product offering ranges from traditional cherry wood pieces, to more modern styles such as denim sofas from the “Cindy Crawford Home” collection. The company also has a line of upholstered furniture by designer Kathy Ireland.
Have something to say? Share your thoughts with us in the comments below.