ibusinesslines.com March 18, 2018

Toys 'R' Us is said to miss vendor payments as woes mount

14 March 2018, 02:31 | Kelvin Horton

Toys "R" Us Is Likely Closing ALL of Its Doors, and That Sound Is 6-Year-Old You Sobbing

Toys R Us Could Close Soon, But It Probably Won't Affect Parents Much

The Toys "R" Us on Ming Avenue posted signs throughout their store following reports that all stores might close. Now the company is preparing to liquidate its bankrupt U.S. division, and though a rescue operation could still come through, it's looking more than likely that the retailer will have to close all of its doors very soon.

But industry insiders say that without a dedicated toy retailer pushing the segment year-round and not just at Christmas, toy makers will have trouble introducing new products instead of the old standbys. Company executives have said those stores would begin liquidating inventory in February and be closed by mid-April.

For both past and present 'Toys "R" Us Kids, ' the news is devastating enough, but at the end of the day, parents will still be able to purchase toys at other retailers both in-store and online. Sources familiar with the matter told the Wall Street Journal that a plan to shut down the stores is one of a few options being considered, but some lenders want to find a way for Toys R Us to continue operating.

The bleak situation lends evidence to the notion that Toys "R" Us is moving toward winding down its USA operations for good.

The struggles of Toys "R" Us have taken a toll on the two largest toymakers, Hasbro Inc. and Mattel Inc. Their shares dropped last Friday after Bloomberg announced the possible Toys R Us liquidation and lost ground again after word of the missing vendor payments. Both Hasbro and Mattel saw a decline in sales a year ago, and now the toy companies are losing one of their biggest retailers.

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