logo
logo

Toys R Us may close all 800 stores within the United States

avatar
Terry Fulmer
img

Due to billions of dollars of debt, iconic toy retailer Toys R Us is considering selling or closing all 800 locations within the United States.

As reported by the Wall Street Journal, this move is taking place on the heels of announcing closure of all 100 retail locations within the United Kingdom as well as a previous attempt to only shut down one fifth of U.S. locations in January.

The company expects store closures to happen over an extended period of time rather than occurring all at once and will include all Babies R Us locations.

Closure of all locations in the United States would lead to the loss of 33,000 jobs.

However, the company is studying a proposal that will allow the retailer to continue operating at roughly 200 locations in the United States.

This would require the retailer to sell off the Canadian side of the business (82 stores) along with 25 percent of the most profitable U.S. locations to a new buyer.

collect
0
avatar
Terry Fulmer
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.