Toys ‘R’ Us to Close all UK and U.S. Stores
There will be no more Toys ‘R’ Us kids, as the company has announced it will be closing all of its US and UK locations.
This comes six months after filing for bankruptcy in the US and one month after doing the same in the UK. This means 900 stores across both countries will be shut down.
The company has filed a motion to start “an orderly wind-down” of its US business and liquidation of inventory.
CEO David Brandon said, “This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years. I am very disappointed with the result, but we no longer have the financial support to continue the Company’s US operations.”
Though it has not been made official, US stores at said to be shutting down one by one.