Toys 'R' Us considers closing all United States stores

Toys 'R' Us Considers Closing All of Its US Stores

Bankrupt Toys "R" Us is preparing to liquidate its American stores and operations after failing in its efforts to find a buyer or a way to restructure its debt deal.

According to reports from CNN and Bloomberg, Toys R Us could shut down all of its stores in the U.S.

A representative for Wayne, N.J. -based Toys "R" Us declined to comment.

But it had an additional burden that stacked the deck against it - close to $5 billion in debt resulting from a leveraged buyout in 2005.

Bloomberg is reporting bad news for Toys "R" Us fans. Toys R Us's United Kingdom unit is in the hands of a court administrator, Bloomberg reported, while the European arm has been targeted by takeover bids and a seller is being sought for its Asian operations.

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In Jan. the company announced plans to close 180 stores, including a location in Kingston. The retailer devotes so much of its space to toys - rather than the few aisles at Walmart and Target Corp. - it can take chances on new items and smaller suppliers.

In the metro-east, Toy R Us and Babies R Us are located on Commerce Lane in Fairview Heights. Everyone will feel the pain if the company goes away, Jefferies LLC analyst Stephanie Wissink said in a note.

Krystina McNamara looks forward to driving over an hour into Grand Rapids, to bring her daughter to Toys R Us.

Toys "R" Us has had a hard task on its hands, seeking to figure a way out of $4.9 billion in debt, particularly $400 million due in 2018 and $1.7 billion more due in 2019. "This could be a sign that the company is finding it hard to reach creditor consensus and might be unable to avoid liquidation".

Mattel's shares fell 6 per cent to US$14.96, while those of Hasbro dipped almost 3 per cent to US$90.75 in early trading.

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