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


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. And to my discovery, the shelves were stocked with new toys that I have been waiting to get my hands on.

Toys "R" Us Inc. has missed payments to some suppliers in recent days as the USA division heads toward a likely liquidation, according to people with knowledge of the situation.

Stores in San Jose, Emeryville, Pittsburg, Pinole, Brentwood, Union City, Fairfield and San Rafael were already on the chopping block as part of that move.

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A source told CNBC that Toys R Us is in the process of drafting the court motion for its liquidation plan and the toy store has also not paid some of its vendors this week.

Toys "R" Us in Wilmington was not able to comment on if or when their store would close, and the manager referred WECT to contact their corporate media relations.

Toys "R" Us also announced in February that it would also close locations in Dedham, Millbury, Bellingham, Northborough and Framingham.

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The struggles of Toys "R" Us have taken a toll on the two largest toymakers, Hasbro Inc. and Mattel Inc. Squeezed by giants and Walmart, and hobbled by $5 billion in debt, the retailer that once dominated toy sales in the USA filed for bankruptcy protection back in September. Their shares dropped last Friday after Bloomberg announced the possible Toys R Us liquidation and lost ground again after word of the missing vendor payments.

The retailer has faced pressure from online retailers and a hefty debt load.

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