Latest news with #ToysRUs
Yahoo
5 days ago
- Business
- Yahoo
ASX slides before key economic events
Australia's sharemarket sea-sawed throughout Thursday's trading as the Commonwealth Bank continued its record march higher. The benchmark ASX 200 index basically traded flat, losing just 2.90 points or 0.03 per cent to 8,538.90. The broader All Ordinaries also finished marginally in the red down 1.60 points or 0.02 per cent to 8,768.90. The Aussie dollar temporarily jumped above 65 US cents, but slid throughout the day's trading and is now buying 64.99 US cents. Even with the minor falls, the market remains within 20 points of an all-time record close. On a relatively quiet day of trading seven of the 11 sectors were lower, with information technology, A-REITs, Materials and Telecommunications lifting the ASX. CBA continued its record run after a late surge saw Australia's largest bank add 0.13 per cent to $181.34. Westpac also gained 0.48 per cent to $33.26, while NAB shares slid 0.23 per cent to $38.51 and ANZ was basically flat losing 0.034 per cent to $29.63. Meanwhile healthcare heavyweight CSL fell 1.32 per cent to $242.96, while Prop Medicus fell 0.89 per cent to $280.82 and Telix Pharmaceuticals dropped 2.83 per cent to $26.43. Utilities shares also slumped. Origin Energy fell 1.31 per cent to $10.58, while AGL slipped 0.57 per cent to $10.39 and Meridian Energy dropped 2.09 per cent to $5.16. Thursday's trading came ahead of a number of key international events led by US President Donald Trump's much hyped call with China's leader Xi Jinping, a European Central Bank meeting and American non-farm payroll data. senior financial market analyst Kyle Rodda said the markets may hit a lull heading into the non-farm payrolls release, with the upcoming ECB decision also a potentially market moving event. 'The ECB is all but certain to cut rates. However, there's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth,' he said. One of the bright spots was lithium stocks led by the resources sector on the back of the White House announced they are creating new grants to help Albemarle fund a new lithium processing facility. Mineral Resources surged 15.14 per cent to $23.26, Pilbara Minerals also soared 12.08 per cent to $1.34 and Liontown Resources jumped 5.25 per cent to $0.64. In company news, Toys R Us has announced it was going into voluntary administration. Toys R Us shares have immediately suspended from trading on the ASX pending further announcements. Shares in Tyro slumped 10.38 per cent to $0.82 with investors selling down the payments business on the back of chief executive and managing director Jon Davey announcing he was moving to a new role with a private equity business. Resimac shares also fell sharply on Thursday, although investors won't mind as the company is going to pay a fully franked special dividend of 12 cents per share. Catapult slipped 0.97 per cent to $6.16 after telling the market the company is purchasing US sports technology company Perch for $US18m ($AU27.70m). Sign in to access your portfolio
West Australian
5 days ago
- Business
- West Australian
ASX finishes lower despite lithium shares huge rally
Australia's sharemarket sea-sawed throughout Thursday's trading as the Commonwealth Bank continued its record march higher. The benchmark ASX 200 index basically traded flat, losing just 2.90 points or 0.03 per cent to 8,538.90. The broader All Ordinaries also finished marginally in the red down 1.60 points or 0.02 per cent to 8,768.90. The Aussie dollar temporarily jumped above 65 US cents, but slid throughout the day's trading and is now buying 64.99 US cents. Even with the minor falls, the market remains within 20 points of an all-time record close. On a relatively quiet day of trading seven of the 11 sectors were lower, with information technology, A-REITs, Materials and Telecommunications lifting the ASX. CBA continued its record run after a late surge saw Australia's largest bank add 0.13 per cent to $181.34. Westpac also gained 0.48 per cent to $33.26, while NAB shares slid 0.23 per cent to $38.51 and ANZ was basically flat losing 0.034 per cent to $29.63. Meanwhile healthcare heavyweight CSL fell 1.32 per cent to $242.96, while Prop Medicus fell 0.89 per cent to $280.82 and Telix Pharmaceuticals dropped 2.83 per cent to $26.43. Utilities shares also slumped. Origin Energy fell 1.31 per cent to $10.58, while AGL slipped 0.57 per cent to $10.39 and Meridian Energy dropped 2.09 per cent to $5.16. Thursday's trading came ahead of a number of key international events led by US President Donald Trump's much hyped call with China's leader Xi Jinping, a European Central Bank meeting and American non-farm payroll data. senior financial market analyst Kyle Rodda said the markets may hit a lull heading into the non-farm payrolls release, with the upcoming ECB decision also a potentially market moving event. 'The ECB is all but certain to cut rates. However, there's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth,' he said. One of the bright spots was lithium stocks led by the resources sector on the back of the White House announced they are creating new grants to help Albemarle fund a new lithium processing facility. Mineral Resources surged 15.14 per cent to $23.26, Pilbara Minerals also soared 12.08 per cent to $1.34 and Liontown Resources jumped 5.25 per cent to $0.64. In company news, Toys R Us has announced it was going into voluntary administration. Toys R Us shares have immediately suspended from trading on the ASX pending further announcements. Shares in Tyro slumped 10.38 per cent to $0.82 with investors selling down the payments business on the back of chief executive and managing director Jon Davey announcing he was moving to a new role with a private equity business. Resimac shares also fell sharply on Thursday, although investors won't mind as the company is going to pay a fully franked special dividend of 12 cents per share. Catapult slipped 0.97 per cent to $6.16 after telling the market the company is purchasing US sports technology company Perch for $US18m ($AU27.70m).
Daily Mail
6 days ago
- Business
- Daily Mail
BREAKING NEWS Beloved children's store Toys R Us collapses in Australia AGAIN after chain received a major lifeline
Iconic children's store Toys R Us has collapsed for the second time in Australia, five years after the retail giant was handed a major lifeline. Toys R Us ANZ said the chain had been placed into voluntary administration in a statement made to the ASX on Thursday. 'As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders,' it said. 'However, the company is no longer in a position to pursue a solvent recapitalisation plan. 'In light of these events, the board has determined that the company is, or is likely to become, insolvent and that the appointment of an administrator is in the best interests of the company. 'The appointment of the administrators is effective immediately.' It marks the second time the company has entered administration in Australia in five years. In 2020, the once popular destination-shopping retailer was bought by a brand called 'Funtastic' which changed its name to Toy R Us shortly after take over. Funtastic acquired the Australian e-commerce website for Toys R Us, Babies R Us and Mittonit in the deal. The US arm of Toys R Us filed for bankruptcy in September 2017 and announced it would sell or close all stores in the US and the UK the following year. The retail giant had 800 stories in the US and 100 stores in the UK at the time. More to come.
Perth Now
6 days ago
- Business
- Perth Now
Playtime's over: Toys R Us collapses again
Toys R Us has collapsed into administration amid desperate recaptialisation efforts to right the beleaguered retailer. Luke Andrews and Duncan Clubb of BDO Business Restructuring were called in on Thursday — just a few months after the shock resignation of Toys R Us' chief executive Penny Cox and a warning from the company's auditor that it risked running out of money over a near $13 million gap between what it owed and the value of its assets. The business had a market capitalisation of just $4.1m before it went under. 'As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders,' it said in a statement to the Australian Securities Exchange. 'However, the company is no longer in a position to pursue a solvent recapitalisation plan. 'In light of these events, the board has determined that the company is, or is likely to become, insolvent and that the appointment of an administrator is in the best interests of the company.' A quarterly financial report released last week showed Toys R Us had just $211,000 in cash and cash equivalents at the end of March, down from $579,000 at the end of the previous quarter. Toys R Us filed for bankruptcy in 2018 and closed 44 Australia stores with the loss of about 700 staff. It re-launched as an online-only retailer in late 2019 after reaching a deal with Hobby Warehouse. In 2021, it was bought by ASX-listed retailer Funtastic, which changed its name to Toys R Us the same year. But it has struggled to return to its glory days and has found it increasingly difficult to lure shoppers away from bigger rivals like Kmart and online platforms Amazon, Shein and Temu An update to the market last Friday said its primary debt holder had been supporting the business with short-term cash requirements and working with the board while it firmed up a recapitalisation plan. It also reported revenues of $863,000 in the three months to the end of April — slightly up from the $779,000 a year earlier — with a substantially higher product margin of 39 per cent. Toys R Us said it would continue to operate as usual 'where possible' as administrators dive into its financial affairs and explore options for a restructure or sale. 'The primary stakeholders have indicated that they will work with the Administrators on any restructuring proposal that may be put to creditors,' it said.
News.com.au
6 days ago
- Business
- News.com.au
Toys R Us has gone into voluntary administration for second time in Australia
The publicly listed Toys R Us, which was saved five years ago from going bust, has again gone into administration. In a statement made to the ASX, Toys R Us ANZ said the business had been put into voluntary administration, with BDO's Luke Andrews and Duncan Clubb being put in charge of helping to restructure the previously beloved toy store. 'As previously announced to the market, the company has been pursuing a recapitalisation plan with the support of its primary stakeholders. However, the company is no longer in a position to pursue a solvent recapitalisation plan,' Toys R Us said. 'In light of these events, the board has determined that the company is, or is likely to become, insolvent and that the appointment of an administrator is in the best interests of the company. The appointment of the administrators is effective immediately.' Toys R Us shares have immediately suspended from trading on the ASX pending further announcements. The board of directors said they acknowledged the support of employees, customers and shareholders during this challenging time. This is the second time the company has been placed in administration in Australia in the last five years. In 2020, the then listed ASX Funtastic retailer was reinvented as a hobby, toys and baby-goods business. As part of this restructure and capital raising, through a reverse takeover, Funtastic acquired the Australian e-commerce website for Toys R Us, Babies R US and Mittonit. This is just the latest chapter for Toys R Us, which was previously a stand-alone iconic name in global toy sales before the chain collapsed in 2017.
