Declared the insolvency proceedings of Toys'R'Us Iberia Real Estate

Declared the insolvency proceedings of Toys'R'Us Iberia Real Estate

Specifically, according to the order issued, the real estate subsidiary of Toys'R'Us Iberia presents a liability of €781 million and an asset of €150.85 million, without prejudice to what the bankruptcy administration establishes.

The judge has agreed that the real estate agency of the toy chain keeps the powers of administration and disposition over its assets as it is a voluntary proceeding, although subject to the intervention of insolvency administrators.

According to the allegations of the insolvent company, the Toys'R'Us group is immersed in a global crisis, so it had to go to markets to obtain liquidity, which was reflected in the subscription of certain financing agreements for an amount of 957 million dollars (€773 million), in which Toys'R'Us Iberia Real Estate acted as a guarantor.

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