Toys 'R' Us Going Out Of Business, Closing All Stores
Toys 'R' Us Going Out Of Business, Closing All Stores
Toys "R" Us Is Likely Closing ALL of Its Doors, and That Sound Is 6-Year-Old You Sobbing
14 March, 2018, 00:59
A vehicle drives near the main entrance for the Toys R Us global resource center, Wednesday, Jan. 24, 2018, in Wayne, N.J. Toys R Us, squeezed by Amazon.com and huge chains like Walmart, announced plans in January to close 180 USA locations and in recent days has missed payments to some suppliers as its USA division heads toward a likely liquidation. Now the company is preparing to liquidate its bankrupt USA division, and though a rescue operation could still come through, it's looking more than likely that the retailer will have to close all of its doors very soon. The company could close its stores as early as next week.
Toys R Us filed for bankruptcy in September. Toys R Us in January had announced it was going to shut down 182 locations, including five in upstate NY. Sources familiar with the matter told the Wall Street Journal that a plan to shut down the stores is one of a few options being considered, but some lenders want to find a way for Toys R Us to continue operating.
Toys "R" Us in Wilmington was not able to comment on if or when their store would close, and the manager referred WECT to contact their corporate media relations. 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. Now Toys "R" Us and other category killers like the now-defunct Sports Authority, Borders and Circuit City, are being upended by online retailers.
The struggles of Toys R Us have taken a toll on the two largest USA toymakers, Hasbro and Mattel.
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