It’s the end of an era for Toys “R” Us as multiple sources reveal the retailer plans to close all remaining stores.
— Cameron Jones (@Para_Mystery) March 9, 2018
Toys R Us going out of business is a sad day for all kids.
— Joe Blonin (@Joeblonin) March 11, 2018
Like many retailers, Toys “R” Us has struggled to compete against online giants such as Amazon and Walmart. The company filed for Chapter 11 bankruptcy back in September as it hoped to restructure. Now, according to multiple sources, the company is being forced to file for Chapter 7 – liquidation. That move could see U.S. Toys “R” Us stores close as early as next week.
How did the kids of this generation let toys r us go bankrupt 😢
— Georgina Beshay (@ginaa_beshay) March 12, 2018
Toys R Us is closing ALL of its stores. I don’t like growing up.
— Jess (@Jess_Rene04) March 12, 2018
According to The Wall Street Journal the company will have a bankruptcy hearing on Monday and we can expect an official announcement from the company following that hearing.
— Kandee Johnson (@kandeejohnson) March 10, 2018
The move is not good for the toy industry in general, with shares of Hasbro and Mattel taking a fall with the news.