Business

Here's what could replace a former Toys R Us building in Durham

Big Lots could be filling a former Toys R Us location in Durham, according to a report.
Big Lots could be filling a former Toys R Us location in Durham, according to a report. AP

A former Toys R Us building in Durham might not sit empty for too long.

Discount retailer Big Lots is apparently looking to scoop up the building in the South Square area, according to a report from CNBC. The store began liquidation on March 23.

Earlier this month, Toys R Us — which filed for bankruptcy six months ago after racking up around $8 billion in debt — announced that it was planning to sell or close all 800 of its U.S. stores, a move that affected as many as 33,000 jobs.

Some of those locations could be sold through an auction process, which is how Big Lots would acquire the Durham building. A host of companies and real estate groups are reportedly tabling bids for former Toys R Us properties, including Aldi, Target, Ashley Furniture and real estate investment trust Federal Realty.

The Durham Toys R Us building appears to be the only North Carolina property going through the auctioning process. CNBC said 58 "qualified bids" are being considered.

The auction will take place today, and Toys R Us' debtors will have until April 12 to approve any final sales, CNBC said.

If Big Lots were to successfully acquire the South Square location, it would be the retailer's third store in Durham. It already has locations at 2000 Avondale Dr. and 4723 N.C. Highway 55.

Zachery Eanes: 919-419-6684, @zeanes
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