Toys ‘R’ Us Announces Bankruptcy, Closing All US and UK Locations

As if my childhood hasn’t suffered enough already, Toys ‘R’ Us announced the imminent closure of all their stores today. This comes on the heels of the famed toy store filing for bankruptcy just 6 short months ago. Plans are to shutter all 800+ locations one by one, until they are no more. Toys ‘R’ Us has been unable to compete with online retailers for quite some time now, and this seems to be their death knell. 

Initially, the company tried to find a suitor, or someone to buy them and all of their assets. According to a post on Engadget, there were as many as 120 potential buys at one point, but Toys ‘R’ Us couldn’t seem to land a single one. The remaining inventory will be liquidated off in the coming months, and then Toys ‘R’ Us will fade off into the sunset. Officially closing their doors after 70 years of memories. Toys ‘R’ Us isn’t the only company feeling the pressure from online retailers though, famed toy makers Mattel and Hasbro have been rumored to be merging soon in a better effort to keep up with the likes of Amazon.

Once Toys ‘R’ Us officially announces which stores are closing when, you’re gonna want to make sure you get in on it, as most of the good items will sell insanely fast. Toys ‘R’ Us CEO David Brandon said in a statement, “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.” Even though the situation is highly unfortunate, it may very well be worth the trip into your local Toys ‘R’ Us. After all, this’ll be the last time you or your children will get to be Toys ‘R’ Us kids..