Toys 'R' Us to announce closure of stores nationwide, according to report

Mattel Inc

Toys R Us is preparing for liquidation and may shutter all of its roughly 800 USA stores, according to multiple media reports. Toys R Us has also pushed back its bankruptcy court date three times - another sign things aren't going well. Some of the people said they can't get anyone to respond to questions at the retailer, which filed for bankruptcy in September and faces a $5 billion debt load. In a tweet last week, Toys R' Us said they've seen an fantastic outpouring of love and they are still open for business.

Earlier in 2018, the company announced it would close about 180 stores as part of its bankruptcy restructuring, which included Babies R Us stores.


Toys R Us, like many big-box stores, just couldn't keep up with its competitors like WalMart and Amazon. In January, stores in Cherry Hill, New Jersey and Exton, Pennsylvania became a part of a growing list slated to close after the retailer entered bankruptcy past year. 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. Squeezed by giants Amazon.com and Walmart, and hobbled by $5 billion in debt, the retailer that once dominated toy sales in the US filed for bankruptcy protection back in September.

Toys R Us has been struggling for months to stay in business and now multiple reports suggest the toy retailer could be calling it quits. Now Toys "R" Us and other category killers like the now-defunct Sports Authority, Borders and Circuit City, are being upended by online retailers.

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