Toys 'R' Us Prepares to Close the Rest of Its US Stores

15 March, 2018, 06:23 | Author: Conrad Doyle
  • Toys R Us collapses

Toys "R" Us will be closing or selling all of its USA stores, the Wall Street Journal reported today, six months after initially filing for bankruptcy.

A later report states that the company is working on a proposal that could leave around 200 stores open; however, one source close to the Wall Street Journal states that the company told its employees that it will likely close all USA stores.

The company still operates around 800 Toys R Us and Babies R Us stores nationwide.

Hundreds of Scots workers are facing redundancy after Toys R Us announced the closure of all of its United Kingdom stores. The news comes just days after Bloomberg News reported that the one-time toy selling giant had been unable to find a buyer in bankruptcy court or restructure its debt, and that it was preparing to liquidate its us business.

Toys R Us has struggled with a heavy load of debt inherited from a 2005 buyout, as well as intense competition from Walmart, Amazon and Target - made worse by disappointing holiday sales. "And if they close, now what are we going to do?" The company had formally filed for bankruptcy protection in September.

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-1983: Kids R Us opens, selling children's clothing.

The toy chain is already in the process of closing down about 180 of its more than 800 US stores.

Toys R Us is the last megastore dedicated to toys.

Toys "R" Us is one of the UK's largest toy retailers with 3,000 staff across the country.

Real estate executives offer different opinions on whether landlords can easily fill the holes at the strip centers where most of the Toys R Us locations are.

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"Even during recent store closeouts, Toys R Us failed to create any sense of excitement". "It's sad", she said about the decline of Toys R Us.

According to source, some people will be made redundant today and that the stores will close within six weeks.

Toys R Us has been in business for 70 years.

So if you've got Toys R Us gift cards lying around, you might want to buy something soon.

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