Tuesday, 19 June, 2018

Toys 'R' Us may close all United States stores, according to financial reports

Report Toys ‘R’ Us Likely To Liquidate All U.S. Stores Toys 'R' Us prepping to liquidate US operations
Elsie Buchanan | 13 March, 2018, 07:06

The future of retail giant Toys R Us appears bleak as several news agencies are reporting the company is on the verge of liquidation.

Toys R Us is reportedly preparing to liquidate its assets, and it could shutter all of its USA stores as early as Monday. In January it closed 180 locations.

While the plan is not final and Toys R Us is not commenting on the liquidation rumors, major toy vendors such as Hasbro and Mattel have seen a significant drop in stock prices.

There are two Toys "R" Us locations in Toledo, one on Monroe St. and another on Reynolds Rd.

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Bloomberg, citing unnamed sources, reported that it's becoming more and more likely that the toy chain will shut down its USA division because the company is having trouble securing a buyer or a way to restructure its debt.

That became apparent on Monday when the stocks of two of the world's biggest toy makers tumbled in US trading. Hasbro fell more than 3 percent, while Mattel stock declined almost 5 percent.

Toys R Us was saddled with debt after a 2005 buyout. The company filed for bankruptcy in September and announced the closure of 182 stores across the country.

The toy retailer will liquidate its operations if its negotiations with creditors do not result in a deal that can help the company to emerge from bankruptcy, Reuters reported on Thursday, citing a source familiar with the matter. The UK has 105 Toys "R" Us stores, which also had a poor holiday season. Many products are tested at Toys "R" Us stores, which is fully dedicated to toys, unlike competitors like Walmart.

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