Toys R Us reportedly considering closing all U.S. stores

Toys R Us May Close All U.S. Stores

Toys R Us May Close All U.S. Stores

The toy retailer filed for bankruptcy in September as it struggled with its $4.9 billion in debt. 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. Officials have failed to find a buyer or reach a new debt financing deal with its lenders.

Shares of Mattel Inc MAT.O and Hasbro Inc HAS.O , the two largest USA toymakers, tumbled on Friday after reports that key customer Toys "R" Us Inc is preparing for potential liquidation, six months after filing for bankruptcy.

Citing a source who asked not to be named, Bloomberg reported that the search for a buyer for the company had not been successful.

Toys "R" Us, like many retailers, has been hit hard by the shift to online shopping like Amazon.

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Joint administrator Simon Thomas said: "We've introduced heavy discounts across the entire Toys R Us store portfolio today".

The company was founded in 1948 and it grew into the largest US toy chain.

Stores outside of the US are not affected.

Toys R Us is preparing to potentially close all of its USA stores after weak holiday sales thwarted its plans to restructure the business through bankruptcy proceedings, according to several media reports.

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Masoud Jazayeri, who this weekend said Tehran only would give up its missiles when the West abandons nuclear weapons. Le Drian said that Paris is determined to implement the JCPOA and has taken many practical measures in this regard.

In February the company announced plans to close 200 stores.

Toys R Us faced the same problems that have pushed other retail chains into bankruptcy. And though the company hadn't reported an annual profit since its 2013 fiscal year because of interest payments, its operating income had risen 22 percent, to $460 million. Company officials later said the Summit location would remain open.

Receiving debtor-in-possession financing and bankruptcy protection, Brandon said, would "ensure the iconic Toys R Us brand stays viable for years to come".

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