Toys ‘R’ Us Wins Approval To Sell Asian Operations For $760 Million

Toys ‘R’ Us has won approval in bankruptcy court to sell the majority stake of its Asian operations, which includes more than 450 stores in 10 markets, to a joint venture that includes Fung Retailing for $760 million.

The retailer is planning to expand its Asia business next year with 68 additional stores (approximately 50 in China) with a focus on building smaller shops. Toys ‘R’ Us Asia said it would stick to stores of approximately 10,000 square feet, compared with the 40,000 square-foot average in the U.S.

Large stores stacked with thousands of choices can become “paralyzing” for consumers, Andre Javes, President and CEO of Toys ‘R’ Us Asia Pacific, told The Wall Street Journal. With less commercial retail space than its U.S….