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Toys R Us to liquidate all USA stores, reports say

Toys R Us to liquidate all USA stores, reports say

That announcement came not long after the company said 184 US stores would be closed. After flagging sales, the United States branch of the company went into bankruptcy proceedings in September, hoping to restructure their debt. According to the report a source said the situation was still fluid but that a shutdown of its USA stores was becoming more and more likely.

The chain filed for bankruptcy in September with the goal of finding protection from creditors.

It filed for bankruptcy past year and in January it announced the closing of 180 locations- that's about 20% of its locations. Toys "R" Us accounts for 15 percent of the USA toy revenue, Bloomberg reports.

No one for the for company would comment on the record to various media outlets calling about the possible closure, but their Twitter account thanked customers for their support.

The bad news for fans of certain big chain toy stores fronted by giraffes keeps rolling in.

National Football League players react to Seahawks trading Michael Bennett to Eagles report
This could all be tied to how the free agency period shapes out with the available players deciding where they will play in 2018. He was inactive for most of the second half of the season and the playoffs, however, in favor of rookie Shelton Gibson.


A liquidation could also spell disaster for smaller toy companies.

The goal was to renegotiate the company's $5 billion debt load, which it has carried since a leveraged buyout in 2005. It initially pledged not to close stores, and its earnings had shown improvement by some measures.

The company was founded in 1948 and it grew into the largest US toy chain.

Stores outside of the US are not affected. Hasbro and Mattel, the two largest companies in the sector, saw their stocks plunge by 3.5% and 7%, respectively.


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