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No More Toys R Us, Kids
"Toys R Us has informed employees that the company plans to sell or close all of its U.S. stores," reports Alina Selyukh.
The news of the closure, reported by an anonymous source and not yet made public in any official capacity at the time of this writing, follows a months-long bankruptcy process that failed to get the finances of the once-might retail chain in order.
"Toys R Us has struggled with a heavy load of debt inherited from a 2005 buyout, as well as intense competition from Walmart, Amazon and Target — made worse by disappointing holiday sales," explains Selyukh.