Toys”R”Us, battered by the same problems that have beset Barnes & Noble Inc. (NYSE: BKS) and Best Buy Co. Inc. (NYSE: BBY), has pulled its initial public offer in at statement filed with the Securities and Exchange Commission. The growth of Amazon.com Inc. (NASDAQ: AMZN) and the online presence of huge retailers led by Wal-Mart Stores Inc. (NYSE: WMT) has nearly ruined the toy retailer’s prospects.
In its filing, the firm reported:
Pursuant to Rule 477 promulgated under the Securities Act of 1933, Toys “R” Us, Inc. hereby applies for the immediate withdrawal of the above-referenced Registration Statement, which was originally filed with the Securities and Exchange Commission on May 28, 2010, as amended on July 9, 2010, August 16, 2010, October 1, 2010, March 28, 2011 and June 30, 2011, together with all exhibits thereto.
The Registration Statement was filed in connection with the proposed initial public offering by Toys “R” Us, Inc. of its common stock, which Toys “R” Us, Inc. has determined not to pursue at this time. Toys “R” Us, Inc. confirms that it has not sold any securities pursuant to the Registration Statement.
Toys “R” Us, Inc. requests that, in accordance with Rule 457(p) promulgated under the Securities Act, all fees paid to the Securities and Exchange Commission in connection with the filing of the Registration Statement be credited for future use.