Toys R Us Considering Closing All US Stores [VIDEO]
Toys R Us is considering a plan to close all of its US stores as early as next week.
The Toys R Us location on Linden Rd. in Flint Township was spared from closing when the retailer announced a restructuring plan that would shudder 180 stores in January.
According to CNBC, the company is thinking about abandoning its restructuring plan and liquidating its US operations. The retailer filed for bankruptcy in September of 2017, struggling with a $4.9 billion debt. The company is having a hard time finding a buyer to help reach a debt restructuring deal with lenders.
A soft holiday season and increased competition from online retailers are cited as the reasons the toy retailer is struggling. Toys R Us has begun liquidation sales ahead of its planned closure of 180 stores.
Toy makers Hasbro and Mattel saw stock prices fall after news of Toys R Us' demise hit earlier this week.