A vehicle drives near the main entrance for the Toys R Us global resource center, Wednesday, Jan. 24, 2018, in Wayne, N.J. Toys R Us, squeezed by Amazon.com and huge chains like Walmart, announced plans in January to close 180 USA locations and in recent days has missed payments to some suppliers as its USA division heads toward a likely liquidation. The company filed for bankruptcy protection less than six ago. Toys R Us in January had announced it was going to shut down 182 locations, including five in upstate NY.
A spokesperson said in January that Toys R Us stores average 25 full-time and part-time employees per store, which means close to 700 jobs could be lost in the area if Toys R Us shuts down the nine stores previously slated for closure and the remaining 19 stores.
Nothing is finalized regarding the liquidation just yet, but it seems like a dire enough situation that you may want to take a nostalgic stroll with your kids through the Toys "R" Us stores of your childhood before they're all gone. The toy stores could be closing its doors as soon as next week.
When Toys R Us closes, the toy industry feels it. Squeezed by giants Amazon.com and Walmart, and hobbled by $5 billion in debt, the retailer that once dominated toy sales in the USA filed for bankruptcy protection back in September.
"From product expertise to in-store events, independent retailers are connected to their customers and their community in ways unmatched by online or mass market", said Kimberly Mosley, President of the American Specialty Toy Retailing Association, in a news release about the survey.
Toys "R" Us reigned supreme in the 1980s and early 1990s, when it was one of the first of the "category killers" - a store totally devoted to one thing: toys.