I remember seeing something similar when some area K-Mart stores shut down during their last round of store closures. They were just grinding their way down on discounts, a little bit at a time. When they got down to some of the best sales the store looked decimated! Large sections of the store roped off, and shelving consolidated in accordance with the depleted amount of stock on hand.
I imagine that with some stores this is going to take longer than it will at others. Some stores will be fed by warehouses that have more stock than others. I know that at one area store which was on that list of initial closures (which was part of the restructuring), the discounts are down to around 70% off. But that got announced in January, and the target date for that particular store closing was in April.
Then there's the psychology of this situation coming into play. So many parents want to be able to take their kids to a toy store. And the weekend after the liquidation story broke a lot of stores were inundated with people. Most of them probably didn't get a sense about how this was all going to play out in terms of the liquidation schedule, and they bought in on the 10% off on action figures and 5% off on LEGO. And frankly, ANY sale with LEGO is usually an event since it almost never goes on sale.