The time has finally come for Toys R Us kids to grow up. The toy store chain which was loved by generations of kids for 70 years is closing all of its 735 U.S. stores.
The company said in a Bankruptcy Court filing it has determined that “the best way to maximize their recoveries is to liquidate the existing inventory in all…735 remaining U.S. stores and begin an orderly wind-down of the U.S. operations.” The company had originally planned to keep 400 stores open but ultimately didn’t have enough cash to keep them operational. The company filed for bankruptcy late last year and hoped it would be helped by strong holiday sales, but that never happened. (USA Today)
Fasho Thoughts:
- If you have Toys R Us gift cards, you better use them. The chain says it will honor them for 30 days.
- While U.S. operations are closing, stores in Canada and elsewhere around the world will likely be sold.
- Toys R Us actually started out as a children’s furniture store.
- Online shopping killed Toys R Us and now kids will never get the experience of walking into the giant toy stores.
Source: CS / CS
