It’s looking increasingly likely that the name Toys R Us will be disappearing from retail parks and high streets across the planet as The Wall Street Journal reports that the US arm of the company are considering closing all of their North American stores.
Troubled toy chain Toys “R” Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.
The big box retailer filed for chapter 11 protection in September with the hopes of reorganizing its roughly $5 billion debt load, revamping its stores and operations, and continuing as a mainstay toy business.
The company recently announced plans to close 184 stores, or about 20% of its roughly 800 U.S. stores, as it worked with creditors to restructure its debts. But now it is now evaluating bids to liquidate the remainder of its U.S. locations, the people said.