And don't be afraid to reach out to your customers personally to inquire about payments.Sometimes a personal touch is all you need to make sure payments are sent on time."Based on the best available information, the company believes that your employment will be terminated on May 14, 2018." The letter states that employees will be paid through May 14 but will not receive severance.
In a letter dated March 15, which was delivered by Fed Ex to some of Toys R Us' 31,000 employees, Toys R Us said financing requirements and "disappointing" holiday sales in the US and Europe "presented challenges that the company could not overcome." "The company is now moving forward to liquidate all of its US operations and close all of its retail locations in the US," the letter says.Pick one or two of these methods to give your small business a money makeover that will make your business more efficient and profitable over the long term.For more ideas on how you can improve your small business finances, review these simple money management practices that can help you form better financial habits on a daily basis.The company is hoping to find a buyer for its Canadian business and 200 of its most profitable US stores.The fate of Toys R Us could be decided during a bankruptcy hearing on Tuesday in Richmond, Virginia.