It’s an end of an era for many consumers who grew up going to Toys “R” Us Inc. After operating for six decades, the toy store chain is planning to sell or close all its 800 stores.
Toys “R” Us has been unable to keep up with online competitors, some analysts say. The toy retailer was nearly $8 billion in debt when filed for bankruptcy six months ago. The liquidation of Toys “R” Us has sent the toy industry reeling, leaving preeminent manufacturers, like Mattel, without a large chain devoted to selling games and dolls and forcing them to scramble to secure other outlets to carry their items, according to the Wall Street Journal. The move will also affect as many as 33,000 jobs. The company told employees closures would likely happen over time and not all at once.
What is your memory of Toys “R” Us growing up? How do you feel about your children not having that experience? Call us at 866-893-5722.
With guest host Libby Denkmann.