in Pop Culture

Toys R Us Declared Bankruptcy and it’s Closing All Its US Stores

It’s A Sad Day For All Millenials

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One of the most emblematic toy store chains in the USA called Toys R Us says goodbye to us. They’re planning to sell or close its 800 stores in the United States. This will affect up to 33,000 jobs. This company reduces its operations after six decades in the market.

The news was known this Wednesday thanks to The Washington Post. The company declared bankruptcy, due to the problems it has had to pay almost $ 8,000 million in debts. Many of these financial problems are in a leveraged purchase in 2005 and how hard it is to find a buyer. There were some reports earlier this week that Toys R Us had stopped paying its suppliers, which include various toy manufacturers, many of them the largest in the country.

by Fatherly

The end of an era

On Wednesday the news became official. The company announced the sad news that it would close its 100 stores in the United Kingdom. Despite this news, stores in the United States will close with time, not all at once.

This company that has been on the market for years is considered a most important toy retailer in the country. Due to the circumstances, it has not been able to keep up with the big box and online competitors. The most recent holiday season was another low blow for the company, which struggled to find its balance even as the retail industry accumulated its biggest gains in years.

In January, the news that Toys R Us would close 182 stores in the States, including a fifth of the remaining Toys R Us and Babies R Us locations.

Not only the United States and the United Kingdom will be affected by this wave of misfortune, probably other stores are also liquidated. In places like France, Spain, Poland and Australia. Also Canada and Asia are interested in selling their part of the business, thus leaving this emblematic toy store in oblivion.

Many Twitter users showed their sadness to this news, in which we can see as part of the millennials could enjoy those immense corridors full of toys, the paradise of any child in the world. Do you have any memories of this toy store?

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