Toys 'R' Us considering liquidating

10 March, 2018, 02:07 | Author: Conrad Doyle
  • Toys ‘R’ Us could go out of business next week as toymakers struggle

The bankrupt toy retailer is reportedly making plans to liquidate US operations and shutter stores. That announcement came not long after the company said 184 US stores would be closed. Hopes are starting to fade away as no buyer has emerged so far to keep some of the business operating, or lenders will agree on terms of a debt restructuring.

Last fall, Toys "R" Us filed for bankruptcy, becoming another casualty in online retailers' prolonged assault on brick-and-mortar stores.

Citing a source who asked not to be named, Bloomberg reported that the search for a buyer for the company had not been successful.

The onetime biggest toy store in the world has been struggling to stay afloat in a changing retail environment (hi, Amazon!).

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Toys "R" Us is considering closing all of its stores nationwide, including four stores in West Virginia.

In February 2017, Toys "R" Us laid off 250 workers at its corporate headquarters in New Jersey. A standalone chain of stores offered children and their parents a chance to wander aisles of toys uninterrupted by other merchandise.

The locations set to close, which include Babies R Us, range from cities in NY and New Jersey to California.

Toys R Us had already begun liquidation sales ahead of planned store closures.

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In January, the chain announced it would close about 182 stores or about 20 percent. The toy business was large enough that he was able to compete with department stores that had toy sections.

In more recent years, sluggish traffic and the shift online took their toll.

Steven Church and Laura J. Keller contributed.

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