Contact Us
Fort Lee Daily Voice serves Fort Lee, Leonia & Palisades Park
Return to your home site

Menu

Fort Lee Daily Voice serves Fort Lee, Leonia & Palisades Park

Nearby Towns

Breaking News: Fresh From Prison, Mahwah Career Criminal Busted Yet Again -- For Purse Theft
business

Paramus Toys 'R' Us Landlord Wants Lease Blocked From Raymour & Flanigan

The Route 4 east Toys 'R' Us landlord is asking Bankruptcy Court to block the lease to Raymour & Flanigan, citing a provision in the 46-year-old building lease, NorthJersey.com reports.
The Route 4 east Toys 'R' Us landlord is asking Bankruptcy Court to block the lease to Raymour & Flanigan, citing a provision in the 46-year-old building lease, NorthJersey.com reports. Photo Credit: Pinterest

Not so fast, Raymour & Flanigan.

Less than two weeks after the furniture store bid $1.3 to take over the lease of the Route 4 east Toys R Us store in Paramus, the building's landlord has asked Bankruptcy Court to block the sale, NorthJersey.com reports.

Property owner N.T. Hegeman Co., Ltd., cites a provision in the 46-year-old building lease prohibiting assigning the lease to furniture stores, the article says.

Prior to the request, the Paramus store was among the 20 on the auction block in the U.S. that received winning bids from someone other than their own landlords, according to a new report in the New York Post.

The article says Toys 'R' Us is struggling to sell the remaining 90 stores being auctioned off, which isn't a good sign for the  landlords of the more than 700 remaining locations.

CLICK HERE FOR MORE FROM NORTHJERSEY.COM.

to sign up for Daily Voice's free daily emails and news alerts.

Welcome to

Fort Lee Daily Voice!

Serves Fort Lee, Leonia & Palisades Park

Get the news you need to know on the go.

Welcome to

Fort Lee Daily Voice!

Serves Fort Lee, Leonia & Palisades Park

Hi! You've read our articles so we know you like our reporting. To keep reading please join our mailing list.

Get important news about your town as it happens.