Two Stores To Bid On Indianapolis Toys R Us Location

INDIANAPOLIS, IN -- Several Toys R Us stores across the country including Indianapolis are scheduled to be auctioned off later this week, according to court documents filed Tuesday, CNBC reports. The news report says 50 "qualigied bids" are being considered, including two for store 9243 in Indianapolis. Big Lots is bidding on five stores including the Indianapolis one, which is also being bid on by Golf & Tennis Pro Shop Inc., CNBC says.

Hundreds of Toys R Us stores will look for new use as only a handful of the store's nearly 800 U.S. locations will be auctioned off.

This follows a federal bankruptcy judge's approval in February for a going-out-of-business plan for Toys R Us, and liquidation sales at more than 150 stores, including those located in Indianapolis and Greenwood. Toys R Us filed for Chapter 11 bankruptcy protection last year amid declining sales and climbing debt.

RELATED: Indianapolis, Greenwood 'Toys R Us,' 'Babies R Us' Liquidating

CNBC says toymaker MGA Entertainment's founder Isacc Larian and other investors pledged $200 million total in hopes of raising more in a bid to save nearly half the U.S. stores.

>>More Via CNBC

Photo credit: Diana Haronis | Getty Images