March 24, 2018

All Toys 'R' Us stores could soon close

11 March 2018, 01:32 | Kara Nash

Toys 'R' Us is liquidating business operations in US

Toys 'R' Us Considers Closing All of Its US Stores

Toys R Us is planning to close roughly 180 stores across the country, or about one-fifth of its USA store fleet, in a bid to restructure the company and emerge from bankruptcy protection.

Toys R Us is preparing to potentially close all of its United States stores as part of a liquidation, according to several reports.

The company had previously announced plans to close 182 USA stores, including a Babies " R " Us in Jacksonville, after entering bankruptcy in September.

A Toys "R" Us spokesman declined to comment. Around three dozen retailers sought bankruptcy protection previous year due in large part to a radical shift in consumer behavior, both in where they shop, and what they buy.

Fifteen percent of USA toy revenue.

The Associated Press reports toy-maker stocks fell Friday after Reuters reported that Toys "R" Us is getting ready to liquidate its USA operations.

NCAA BASKETBALL: Tourney teams to be revealed early
Will MSU or MI open the NCAA Tournament in Detroit? This then determines a Quadrant one win or loss and so on and so forth. That's why the Vols were keeping their eyes focused on bigger prizes even as they celebrated their SEC title.

The retailer said in January it would shut about a fifth of its USA stores as it tries to emerge from one of the largest ever bankruptcies by a specialty retailer. The retailer devotes so much of its space to toys - rather than the few aisles at Walmart and Target Corp. - it can take chances on new items and smaller suppliers.

There is only one Toys "R" Us in Texoma which is located in Wichita Falls near Sikes Senter Mall.

That's bad news for toy companies like Mattel and Hasbro, whose stocks are already falling.

Toys R Us faced the same problems that have pushed other retail chains into bankruptcy.

Toys "R" Us generated US$11.5 billion in sales in 2016.

"The toy industry remains in flux", Gerrick Johnson, industry analyst at BMO Capital Markets, said in a research note on Friday, noting toy industry executives were concerned about the sector's health in 2018.

Other News

Trending Now

NASA mission discovers Jupiter's inner secrets
Using this data, the researchers determined that the wind belts - these stripes observed by Galileo - extend 3,000 km deep. The recent findings will perk up understanding of the planet's core mass, interior structure and eventually, its origin.

Serena Williams: 'If I'm not ready now, I never will be'
The only mother to have won the Wimbledon singles title since World War One was Australia's Evonne Cawley (nee Goolagong) in 1980. The former Wimbledon champion announced her retirement from tennis in 2013 following which she was diagnosed with a rare virus.

Nor'easter leads to delays, cancellations at Bradley International Airport
Wednesday's nor'easter is just beginning and Bradley International Airport is experiencing some cancellations and delays. Fort Lauderdale-Hollywood International also has had its schedule thrown into chaos by the massive winter storm .

Security increased at UH Ahuja Fertility Center after egg, embryo freezer malfunction
On Friday, the fertility center had informed about 700 patients that their eggs and embryos may have been destroyed. Some people had multiple samples stored, and some eggs and embryos have been stored since the 1980s.

Pharma Bro Martin Shkreli Has Been Sentenced To Seven Years In Prison
During the course of the trial, Shkreli was removed from Twitter for harassing a journalist for Teen Vogue magazine. Last fall, he offered online followers a $5,000 reward to anyone who could get a lock of Hillary Clinton's hair.

Tillerson arrives in Africa with a narrow mission: Counterterrorism
The energy behemoth has significant business dealings in sub-Saharan Africa, including in Chad, Nigeria and Equatorial Guinea. The U.S. noted recent United Nations reports about some of the extremist operations in the G-5 countries and the Trans-Sahel.

Erdogan: Turkish forces to sweep across northern Syria after Afrin, Manbij
Turkey is now engaged in a cross-border offensive in Syria to drive out Kurdish fighters it considers to be an extension of the PKK.

Broadcom appeases United States on 5G investment
CFIUS worries Broadcom could thwart US technology leadership - headed by San Diego-based Qualcomm - in 5G networks. Broadcom is based in Singapore, which gives CFIUS jurisdiction to investigate.

Joe Dunleavy and Ireland U20s claim Bonus Point win over Scotland
Ireland have been crowned Six Nations champions after securing their third bonus point win over Scotland in Dubln on Saturday. So it's still going to be a massive game". "We are always going to go through this at some stage", England boss Jones said.

Arsenal defender rallies his teammates ahead of Milan trip
Arsenal have reportedly received an injury setback ahead of their Europa League round of 16 first-leg versus AC Milan . Meanwhile, Sean Dyche is well thought of at Arsenal as he closes in on a top ten Premier League finish with Burnley.