Toys “R” Us Closing or Selling all U.S. Stores

Toys

Toys "R" Us is officially closing its doors in the spring of 2018.

Kai Theriault

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After many years of Toys “R” Us being the go-to toy store, it is officially going out of business. Struggling with five million dollars in bankruptcy and other financial woes, the toy store chain has reached the end. 

Toys “R” Us has dealt with tremendous debt since 2005, in addition to heightened competition from rival companies such as Amazon, Walmart and Target. This web-based competition has lowered holiday sales, making a comeback nearly impossible, and the internet-based companies became the hardest rivals, making it far easier to buy toys from the comfort of home. In a report by The Washington Post, “1994 — the year Amazon.com Inc. debuted and lit the online shopping fuse — Toys “R” Us had 822 domestic stores. That means its store portfolio today is bigger than in the pre-online shopping days, even as a major share of toy spending has migrated to digital channels.” Despite growing, Toys “R” Us could not compete with digital rivals.

Currently, Toys “R” Us is in bankruptcy and will be shutting the doors to stores following liquidation sales. The closing of stores is expected to see 31,000 US employees laid off. With the problems Toys “R” Us is facing, “It said many of its stores in Canada, Europe and Asia ‘remain strong, viable businesses,’ and may be saved or sold. On Wednesday, Toys “R” Us said it was closing all its stores in the UK.” With the closing of Toys “R” Us, Bed Bath and Beyond made it official that they would “Trade in your Toys “R” Us gift cards before they expire and exchange for a Bed Bath & Beyond Gift Cards.” 

In addition to the stores closing on March 22, 2018, the founder of Toys “R” Us passed away just after the announcement. He created the company just after World War II as a baby furniture shop with a high demand for baby supplies, and eventually to the toy story that was a staple for American families for decades.    

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