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

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

Toys R Us is preparing for liquidation and may shutter all of its roughly 800 USA stores, according to multiple media reports. In January, it was announced that 182 of its over 800 locations - almost 20 percent of its stores - would be closing come February, but before February was through, the news of a further 200 closures was announced.

Workers at the store on Harry L Drive in Johnson City haven't been told what to expect about the future of that location.

Toys R Us also recently stopped negotiating settlements with vendors on money owned before it filed for bankruptcy, some of the people said.

The company filed for Chapter 11 protection in September, when it seemed it might be able to reorganize its debt while it renovated stores and operations, but those hopes are fading, according to reports in the Wall Street Journal and Bloomberg.

But what does that mean for parents shopping for the next must-have toy?

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The retailer is expected to announce this week that it's liquidating its entire USA operation, going out of business, and closing all of its 620 remaining stores.

The Latham store will close by the end of the month and has launched a closing sale, an employee at the store said.

The struggles of Toys "R" Us have taken a toll on the two largest toymakers, Hasbro Inc. and Mattel Inc.

The struggles of Toys R Us have taken a toll on the two largest USA toymakers, Hasbro and Mattel. 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.

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

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