Markets

Toys R Us is going out of business, closing all stores

Toys R Us is going out of business, closing all stores

In January, Toys "R" Us announced that it would close 20 percent of its USA stores, or 180 locations (including multiple stores in Michigan), within months. Now the company is preparing to liquidate its bankrupt United States division, and though a rescue operation could still come through, it's looking more than likely that the retailer will have to close all of its doors very soon.

The company later announced plans to close around 182 of its stores.

Toys R Us has not spoken publicly about closing all its USA stores, and a spokeswoman declined to comment on that possibility.

For those who need a Toys R Us fix, remaining stores in the Bay Area include a shiny new store in Concord that opened just before the end of 2017, as well as locations in Dublin, Gilroy, Fremont, Hayward, Livermore, Milpitas, Redwood City, San Mateo, San Bruno, Salinas, San Jose, Santa Cruz, Sunnyvale, Vallejo and Colma.




The retailer is expected to announce this week that it's liquidating its entire USA operation, going out of business, and closing all of its 620 remaining stores.

Toys R Us executives had hoped a major restructuring of operations could keep the 70-year-old company alive but that effort was dealt a blow by poor sales during the holiday shopping season. Squeezed by giants Amazon.com and Walmart, and hobbled by $5 billion in debt, the retailer that once dominated toy sales in the US filed for bankruptcy protection back in September.

"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.

When Toys R Us closes, the toy industry feels it.


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