Economy

Closing Time Looms for All Toys R Us Stores

Closing Time Looms for All Toys R Us Stores

Now the company is preparing to liquidate its bankrupt U.S. 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. Company executives have said those stores would begin liquidating inventory in February and be closed by mid-April.

Toys R Us could be closing up shop in the U.S.as early as the beginning of the week. Fifteen locations in NY were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April. Squeezed by giants Amazon.com and Walmart, and hobbled by $5 billion in debt, the retailer that once dominated toy sales in the USA filed for bankruptcy protection back in September.

When Toys R Us closes, the toy industry feels it.

There's no word as of now on what exactly this all means for Babies "R" Us, but seeing as many Toys "R" Us locations also house the baby gear superstore, this could mean that expectant moms may have to look elsewhere when it comes time to create a registry.

Reese Witherspoon, Kerry Washington's 'Little Fires Everywhere' Lands Series Order at Hulu
Witherspoon then brought the book to Washington and, together, they approached Tigelaar to adapt and showrun the limited series. Hulu nabs Celeste Ng's Little Fires Everywhere series adaptation, starring powerhouse Kerry Washington and Reese Witherspoon .

"From product expertise to in-store events, independent retailers are connected to their customers and their community in ways unmatched by online or mass market", said Kimberly Mosley, President of the American Specialty Toy Retailing Association, in a news release about the survey.

Toys R Us, like many big-box stores, just couldn't keep up with its competitors like WalMart and Amazon.

Toys R Us has missed payments to some suppliers in recent days as its USA division heads toward a likely liquidation, according to people with knowledge of the situation.


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