March 23, 2018

The end is closer for Toys R Us

14 March 2018, 02:30 | Melvin Schneider

Toys R Us Could Close Soon, But It Probably Won't Affect Parents Much

According to reports Toys ‘R Us could go out of business this week

The retailer is expected to announce this week that it's liquidating its entire us operation, going out of business, and closing all of its 620 remaining stores. Things are even looking a little bleak for larger toy companies like Mattel and Hasbro, which both experienced drops in the stock market once the Toys "R" Us news started flying this month.

The Toys "R" Us on Ming Avenue posted signs throughout their store following reports that all stores might close. Company executives have said those stores would begin liquidating inventory in February and be closed by mid-April. Some of the people said they can't get anyone at Toys "R" Us to respond to questions.

Toys "R" Us in Wilmington was not able to comment on if or when their store would close, and the manager referred WECT to contact their corporate media relations. The toy store giant and its companion stores Babies R' Us could all shut down by this week, according to published reports. Sources familiar with the matter told the Wall Street Journal that a plan to shut down the stores is one of a few options being considered, but some lenders want to find a way for Toys R Us to continue operating. Now toy companies will have to battle with the big-box stores like WalMart and Target for the much valued and limited shelf space inside their stores and count on Amazon for their sales.

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The chain had already announced the shutdown of a Babies "R" Us location in the Holyoke Mall.

"To our loyal customers: We've seen an fantastic outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday.

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