The collapsed retailer looks for a glimmer of hope in Asia
Toys R Us has received several $1bn (£706m) bids for a majority stake in its Asia arm, a lawyer for the company said.
The US company plans to sell some of its global operations after collapsing in September due to piling debt and strong competition from discount online retailers.
Lawyer Joshua Sussberg said that the company will attempt to continue running profitable stores in Europe and Asia while it folds its UK and US stores.
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Mr Sussberg told a US court hearing that sales and estate auctions were generating some money to repay creditors.
Toys R Us is also expecting to finalise a deal to sell its operations in Central Europe.
The retailer had almost 1,600 stores before it filed for bankruptcy protection, many of them characteristically located in out-of-town areas with large stores.
The rise of online shopping and the dominance of e-retailers such as Amazon made life difficult for Toys R Us as it never completely took hold of online sales.
Toys R Us in the UK has yet to find a buyer for 100 closed stores. Outlets in other regions, such as Asia, continue to operate.
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