Toys R’ Us is going out of business and will close or sell all of its stores including its Babies R’ Us locations. Thethe toy store of your childhood has been unable to settle its debt and compete with online retailers. The closings will leave approximately 33,000 people without jobs. I guess it’s time for all of us Toys R’ Us kids to grow up.
Toys R’ Us sells 10% of all toys in the US but was unable to pay off its $400 million in debt interest. Trying to pay off its debt while competing with giants like Wal-Mart and Amazon proved too much for the toy store.
The only ray of light in this sad closing is the impending closeout sales at your local store. It will be a great time to stock up on birthday/Christmas presents or supplies for expecting parents.
The announcement comes days after Claire’s announced it will file for bankruptcy and close its 2,600 locations. The ear-piercing hub was once a staple in every mall.
— CNN (@CNN) March 15, 2018