Toys 'R' Us Going Out Of Business, Closing All Stores

Lloyd Doyle
March 13, 2018

Nothing is finalized regarding the liquidation just yet, but it seems like a dire enough situation that you may want to take a nostalgic stroll with your kids through the Toys "R" Us stores of your childhood before they're all gone. The company filed for bankruptcy protection less than six ago.

The toy megastore Toys "R" Us is reportedly shutting down all of its USA stores this week after the bankrupt company was not able to find a buyer, according to reports last week. The company could close its stores as early as next week. Fifteen locations in NY were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April. The toy stores could be closing its doors as soon as next week. Things are even looking a little bleak for larger toy companies like Mattel and Hasbro, which both experienced drops in the stock market once the Toys "R" Us news started flying this month. The chain has struggled to compete on price against giants like Amazon, Target and Walmart, which sell toys, but small Bay Area toy stores have also held their own by offering carefully curated selections and staff expertise.

The retailer has faced pressure from online retailers and a hefty debt load.

Toys R Us executives had hoped a major restructuring of operations could keep the 70-year-old company alive but that effort was dealt a blow by poor sales during the holiday shopping season.

"To our loyal customers: We've seen an unbelievable outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday.

Other reports by Iphone Fresh

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