Toy Story is also the first full-length theatrically-released feature film to be made entirely with computer generated imagery CGI.
But in Asia, it is business as usual, said Toys 'R' Us Asiawhich runs the chain's business in the region, including Singapore, yesterday. While the chain's bankruptcy filing in North America may cause jitters for retailers, toy sales in Singapore are expected to continue to grow this year, analysts said.
Toys 'R' Us Inc, which has 1, stores in 38 countries and 64, employees, said its hand was forced after an attempt to restructure out of court sparked a press report about a potential bankruptcy, spooking critical vendors and credit insurers. But it intends to make the best of the situation and reorganise in time to come back in force for the holiday shopping season, Bloomberg reported.
Chief executive David Brandon said in a court filing: The financing, subject to court approval, reassures its suppliers they will get paid for their Lego building blocks and Barbie dolls that are being shipped for the holiday season, Reuters reported. The company does not plan to close stores and says its locations across the globe will continue normal operations.
Toys 'R' Us Asiawhich runs the Asian business, said in a statement that it is a separate legal entity and financially independent of all other operating companies worldwide. It is a joint venture between the main global firm Toys 'R' Us Inc - which holds an 85 per cent stake - and Fung Retailing, a unit of Hong Kong's private Fung Group, which holds a 15 per cent stake.
The Asian toy company's president, Mr Andre Javes, said: The North American filing by Toys 'R' Us Inc is the latest sign of trouble in the retail industry disrupted by online shopping and discount chains. But the situation is not as dire for toy retail in Singapore.
Market research firm Euromonitor International reported a year-on-year increase in the market size of toys and games in Singapore over the past five years. The figure is expected to increase by 3.
But traditional toys and games are steadily forming a smaller proportion of the market for all toys and games - 36 per cent last year compared to 40 per cent in - due to the growing size of the video game market. Woes in US, but Asia unaffected'.
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Toys R Us, Inc. operates as a retailer of toys and juvenile products. The Company offers products including action-figures, dolls, role play toys, vehicles, video game software, systems and.