Toys R Us considers closing all U.S. stores

Toys R Us considers closing all U.S. stores

Toys R Us considers closing all U.S. stores

Toys R Us Canada says it's business as usual amid reports that the retailer's USA counterpart is preparing to liquidate operations in the United States.

According to Bloomberg, the toy store chain was not able to find a buyer or reach a deal to restructure debt with its lenders.

On Friday, Toys "R" Us Canada said that it had no information or comment on the reports about its USA parent.

While last year's bankruptcy filing only applied to the company's US operations, it is struggling overseas as well.

Toys R Us was hobbled by $5 billion in debt when it filed for bankruptcy protection in September.

Stores outside of the USA are not affected.

With Toys R Us being the last superstore dedicated to toys and possibly leaving the USA market, toy makers could struggle to promote their products.

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Toys "R" Us in Canada filed for bankruptcy at the same time as the United States division did, but the company's VP of Marketing told CBC Thursday that 'Our business in Canada is operating as usual'.

There is only one Toys "R" Us in Texoma which is located in Wichita Falls near Sikes Senter Mall.

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

In February the company announced plans to close 200 stores.

Some Canadian subsidiaries of US retailers have managed to survive their parent company's bankruptcy, however.

But there are now no bidders for Toys R Us, which accounted for 15 to 20 percent of USA toy sales in 2017. The closings present a larger problem for the toy industry as a whole as word of an impending liquidation sent stocks tumbling.

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