Toys R Us considers closing all United States stores

Toys 'R' Us is liquidating business operations in US

The retailer, which filed for Chapter 11 bankruptcy in 2017, has plans to liquidate its USA holdings after abandoning plans to restructure the company, The Journal reported, citing sources close to the matter.

According to Bloomberg, the toy store chain was not able to find a buyer or reach a deal to restructure debt with its lenders.

Toys "R" Us entered bankruptcy protection in September and announced then it would close dozens of stores, including the company's Babies "R" Us locations.

While the plan is not final and Toys R Us is not commenting on the liquidation rumors, major toy vendors such as Hasbro and Mattel have seen a significant drop in stock prices.

The retailer entered bankruptcy previous year with $5 billion in debt.

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Toys R Us customers are being urged to use up all the money on their gift cards this weekend or they'll risk losing money as the company begins closing down stores across the country.

Stores outside of the USA are not affected. "Toys "R" Us is where new products can be discovered and blossom". Toys R Us's United Kingdom unit is in the hands of a court administrator, Bloomberg reported, while the European arm has been targeted by takeover bids and a seller is being sought for its Asian operations.

The US company is also considering other options, including a potential sale in bankruptcy if possible, according to the source.

The same CNN report says that Amazon is pushing toy prices lower, hurting not only Toys "R" Us, but Target and Walmart toy sales as well.

Toys R Us closed its flagship store in Manhattan's Times Square, a huge tourist destination, about two years ago. However, industry experts believe that sagging sales and the loss of a key revenue stream in Toys "R" Us is likely to fuel rumors of a merger between Hasbro and Mattel as they struggle to survive an online-retail takeover. "You know it's a different vibe when you go inside of the store", says a father as he walked out with toys for his kids.

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