Published: Sat, March 10, 2018
Medical | By Garry George

Toys R Us on brink of complete closure

Toys R Us on brink of complete closure

Despite its struggles, Toys "R" Us results show that there's still demand for toys - with he company generating more than US$7 billion in annual sales in the U.S.

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

Bloomberg has reported that Toys R Us is planning a complete liquidation of its USA operations that are now under bankrupt protection as it has not located a buyer or reached a restructuring deal for its debt with lenders.

The toy company is reportedly having trouble finding a buyer or reaching a debt restructuring deal with its lenders, but some experts believe a rescue deal could still be possible. The closings present a larger problem for the toy industry as a whole as word of an impending liquidation sent stocks tumbling.

A spokesman for Toys R Us Reading said: "There are plenty of bargains to be had in store, everything is now reduced by up to 25 per cent on shelf price".

Toys "R" Us will close Toys "R" Us and Babies "R" Us locations in locations in several Central and Eastern Massachusetts locations. Also, this is just for U.S. operations.

Smaller toy company Jakks Pacific fell almost 5% too.

Toys "R" Us files for bankruptcy late Tuesday night.

Mattel's shares fell 6 per cent to US$14.96, while those of Hasbro dipped almost 3 per cent to US$90.75 in early trading.

All Kids R Us stores closed in 2003.

But after a Christmas season with sales that were far worse than expected, that plan quickly collapsed. We've got your backs! "It's going to be harder for new items to break out".

In the metro-east, Toy R Us and Babies R Us are located on Commerce Lane in Fairview Heights.

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