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Toys 'R' Us Considering Closing All Of Its US Stores Amid Bankruptcy

10 March 2018, 06:13 | Rodolfo Wallace

Toys 'R' Us Considering Closing All Of Its US Stores Amid Bankruptcy

Bankrupt Toys R Us may sell assets and close all U.S. stores

The toy chain secured a $3.1 billion loan to keep stores afloat during the holidays, but sales results were worse than expected. Meanwhile, there is talk of selling Toys "R" Us' Asian business, despite it being the company's most profitable area.

Toys "R" Us is reportedly closing all its USA stores next week after the bankrupt company was not able to find a buyer, according to Bloomberg News.

Drowning in debt, Toys "R" Us failed to invest in e-commerce and new initiatives that would have helped it remain competitive against Amazon and other rivals.

While Toys "R" Us isn't out of the game just yet, the effects of its bankruptcy proceedings are already starting to show themselves.

If Toys "R" Us is unable to fashion a last-minute miracle, the end of its 70-year run would be the latest blow to the reeling retail industry.

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"It's like nostalgia. I mean, everybody's gone to Toys "R" Us since they were a kid", Kayla Pitzer said as she shopped with her son.

It is thought Moorfields will begin with the closure of at least 26 loss-making stores earmarked late past year, when Toys R Us pushed through a restructuring before its demise.

In filing for bankruptcy last September, Toys R Us cited a heavy long-term debt load of more than $5 billion.

Word that Toys "R" Us could liquidate all its U.S. holdings sent toy manufacturer stocks tumbling on Thursday. Mattel's shares fell 6% to $14.96, while Hasbro shares lowered around 3% to $90.75. "It's going to be harder for new items to break out".

Sales numbers did not reach the levels Toys R Us told lenders they would reach.



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