Toys GIF - Find & Share on GIPHY


After 6 decades, Toys R Us is closing all its US stores. They filed for bankruptcy about 6 months ago as they tried to pay down around $8 billion of debt. They were not successful in finding a suitor and it is reported that they stopped paying their suppliers. They also announced that they are planning on closing all their UK stores. A bid was made on their Canadian stores.

MGA Entertainment bid on the Toys R Us as well as as many as 400 of the US stores. In the bankruptcy file of September, Toys R Us owes MGA $21.3 million.

Toys R Us based in Wayne, NJ has been struggling for years to control their billions of debt. It has been a uphill battle due to competitors like Amazon, Walmart and Target. Toys R Us has been unable to find the right chemistry in order to draw in the customers that they did when the chain first started. In its hey day, they had a flagship store in New York’s Times Square. This store is now housing an Old Navy.

It’s a shame to see an iconic store fail but it is a sign of the times.


You Better Hodl That Stish!

Join The SteemThat Movement Helping Steemians Grow.

Comments Reward You And The Author.

outwalking Zub Quzaini Thank you for reading my post.
5 days ago

Categories: News

outwalking avatar

me outwalking

Life time student

Comments are closed.