Toys R Us to liquidate all U.S. stores, reports say

Toys-R-Us making plans to liquidate U.S. operations

After failing to find a buyer, Toys "R" Us is reportedly making plans to shutter all its USA stores amid bankruptcy. As a result, it is becoming increasingly likely that the US branch of the company will be liquidated, leading to the closure of all USA stores.

Toys R Us is expected to start closing stores and making staff redundant as early as next week, as hopes of finding a buyer for the ailing retailer fade.

The retail chain has failed to find a buyer or reach a deal to restructure its debt, Bloomberg reported.

Toys "R" Us is close to closing all of its USA stores and liquidating all merchandise unless a last-minute rescue emerges, according to several reports.

A spokesman for Toys R Us Reading said: "There are plenty of bargains to be had in store, everything is now reduced by up to 25 per cent on shelf price". They had already planned to close 20% of their U.S. stores (184 to be precise). If the retailer goes under, places like Amazon or big box stores like Walmart and Target will likely pick up those larger toy makers, but the smaller manufacturers could be abandoned, according to CNBC. It initially pledged not to close stores, and its earnings had shown improvement by some measures. Over time, however, the limited inventory made Toys "R" Us a one-stop shop that was not a destination for other products.

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That buyout, by private equity investors Bain Capital and KKR, and real estate trust Vornado, saddled Toys with crushing interest payments amounting to $400 million a year, just as the economy was entering its worst downturn since the Great Depression.

In more recent years, sluggish traffic and the shift online took their toll.

The latest news sent toy maker shares tumbling in late trading, including Mattel, which fell 6.1 percent and Hasbro, which declined 3 percent, according to reports.

Steven Church and Laura J. Keller contributed.

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