Toys "R" Us stores could be closing

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

Toys "R" Us thinking about liquidating all of its USA stores as part of the company's bankruptcy restructing, media outlets are reporting.

Shares of Mattel and Hasbro, the two largest USA toymakers, tumbled on to end the week after reports that Toys "R" Us is preparing for potential liquidation, six months after filing for bankruptcy.

Toys R Us is reportedly considering closing every location in the United States in the very near future.

But it had an additional burden that stacked the deck against it - close to $5 billion in debt resulting from a leveraged buyout in 2005.

Stores outside of the US are not affected.

A woman visits Toys R Us store at Times Square in NY, U.S., March 9, 2018. Moreover, the retailer was willing to take chances on new products and small companies.

Most everyone expected Toys "R" Us to close a significant amount of stores if it wanted to successfully restructure, something CEO Dave Brandon explained to customers who were anxious about the company's future. It was able to refinance for years, but it filed for bankruptcy in September. As of Friday, the Toys R Us corporate website listed two job openings - one for a stock associate, the other for a sales associate - at the local store. Toys R Us' sales, traffic and profit all fell far short of what it had told lenders to expect.

Shares of Mattel Inc. and Hasbro, the two largest USA toymakers and Spin Master, Canada's largest toy company, all fell on Friday as the industry speculated about whether or not a liquidation of Toys "R" Us in the USA would occur, a move that would put pressure on 2018 toy shipments for toymakers in markets around the world.

Moorfields said at the time of the chain's collapse it is making "every effort" to secure a buyer for all or part of the business, but sources indicated this was unlikely. Receiving debtor-in-possession financing and bankruptcy protection, Brandon said, would "ensure the iconic Toys R Us brand stays viable for years to come".

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