Deep-discount retailer Ollie’s Bargain Outlet paid $42 million in a recent bankruptcy auction to buy 12 former Toys R Us stores, the Dauphin County-based company disclosed today in a filing with the U.S. Securities and Exchange Commission.
Toys R Us closed all of its stores at the end of June. As part of the chain’s bankruptcy liquidation, the stores are being auctioned off in blocks. Another round is slated for late September, according to A&G Realty Partners, the firm hired to handle the auctions.
Ollie’s acquired this block of stores as part of a two-day auction held Aug. 13 and Aug. 14 in New York City, according to bankruptcy court filings. The 12 stores are located in nine states, including two in Pennsylvania. Those stores are in Delaware and Lycoming counties.
The other 10 stores are in Ohio, Virginia, Louisiana, Texas, Maryland, Alabama, Tennessee and Indiana.
In its SEC filing, Ollie’s said it expects to open these new store locations during its 2019 fiscal year.
Ollie’s currently has 285 stores in 22 states throughout the Eastern U.S.