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Toys R Us is CLOSING - Expect Amazon, Walmart, Target to Feast

3,085 views · Published 15 March 2018 · 5:17 · Indexed 4 November 2026

Channel: HollywoodShono · 2018 · Gaming

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Toys R Us has officially thrown in the Towel on Thursday March 15th, Toy retailer Toys ‘R’ Us Inc on Thursday asked the U.S. Bankruptcy Court for approval to stop paying all of its suppliers while it tries to line up buyers for its international business ahead of a planned liquidation of its U.S. operations. 
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LIQUIDATION

Toys ‘R’ Us - the last major retailer focusing solely on toys - plans to liquidate inventory at 735 U.S. stores, including Babies ‘R’ Us locations, by the end of this year. The wind-down follows a bruising holiday season, when the company failed to stay competitive and sales came in well below projections. The quarter accounts for 40 percent of its annual net sales.

With the disappearance of Toys ‘R’ Us, everything from squishies and slime kits made by small companies, to board games and Barbie dolls by heavyweights Hasbro Inc and Mattel Inc, will lose a top customer.

Hasbro said the pending liquidation and closure is expected to be “disruptive” in the near term. 

Toys ‘R’ Us’ creditors said in a court filing that Target Corp, Walmart and Amazon pricing toys at low margins, and a greater-than-expected decline in toy and gift card sales following its bankruptcy filing in September, led to the weak performance in the quarter. 

But efforts to keep the business going collapsed after lenders decided they could recover more in a liquidation by closing stores and raising money from merchandise sales.

Seventy-year-old Toys ‘R’ Us does not rule out a last-minute offer for all of its stores and said it will announce the winning bidder of a March 29 auction on April 12.

More than 8,000 U.S. retail stores closed in 2017, roughly double the average annual store closures in the previous decade, according to data from the International Council of Shopping Centers.

Despite the threat of 30,000 job losses, experts do not expect retail employment and wages to be subdued in the near term. Approximately 700,000 jobs in the industry need to be filled, say retail staffing firms and trade federations such as the NRF.

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