The End of an Era for Toys “R” Us


Source: AP

It’s the end of an era for Toys “R” Us as multiple sources reveal the retailer plans to close all remaining stores.

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.

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.

The move is not good for the toy industry in general, with shares of Hasbro and Mattel taking a fall with the news.