Toys R USA isn't alone.
Sources say the company could file for Chapter 7 bankruptcy liquidation as early as next week. The company's huge interest payments also forced it to use resources that could have gone toward improving technology and operations. However, the situation remains fluid, Bloomberg reported. Around three dozen retailers sought bankruptcy protection past year due in large part to a radical shift in consumer behavior, both in where they shop, and what they buy. The company has not yet made a statement about whether all stores will close soon. Bigger rivals like Walmart Inc. and Target Corp. would typically take a more cautious approach.
It filed for bankruptcy a year ago and in January it announced the closing of 180 locations- that's about 20% of its locations.
All Kids R Us stores closed in 2003. Currently, Toys "R" Us is responsible for around 10% of all sales for both companies.
On Friday, Toys "R" Us Canada said that it had no information or comment on the reports about its USA parent. Toys "R" Us may be running out of time, if it hasn't already.
The liquidation plan could mean the closing of stores throughout MA, including its Springfield location.
The nation's largest toy store chain may be days away from liquidating its assets and shutting its doors for good. "Toys "R" Us is where new products can be discovered and blossom".
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