Economy

Toys 'R' Us Going Out Of Business, Closing All Stores

Toys 'R' Us Going Out Of Business, Closing All Stores

A vehicle drives near the main entrance for the Toys R Us global resource center, Wednesday, Jan. 24, 2018, in Wayne, N.J. Toys R Us, squeezed by Amazon.com and huge chains like Walmart, announced plans in January to close 180 USA locations and in recent days has missed payments to some suppliers as its USA division heads toward a likely liquidation.

But what does that mean for parents shopping for the next must-have toy?

The company filed for Chapter 11 protection in September, when it seemed it might be able to reorganize its debt while it renovated stores and operations, but those hopes are fading, according to reports in the Wall Street Journal and Bloomberg.

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"To our loyal customers: We've seen an awesome outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday. Shares of those companies fell on Friday after Bloomberg reported about the possible liquidation, then dipped again on Tuesday. Fifteen locations in NY were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April.

There's no word as of now on what exactly this all means for Babies "R" Us, but seeing as many Toys "R" Us locations also house the baby gear superstore, this could mean that expectant moms may have to look elsewhere when it comes time to create a registry.

Toys R Us now has about 800 stores in the United States. The toy stores could be closing its doors as soon as next week. Now Toys "R" Us and other category killers like the now-defunct Sports Authority, Borders and Circuit City, are being upended by online retailers.