Toys R Us could close all of its stores

Toys R Us could close all of its stores

The company filed for Chapter 11 protection in September, when it seemed it might be able to reorganize its debt while it renovated stores and operations, but those hopes are fading, according to reports in the Wall Street Journal and Bloomberg.

Toys R Us has missed payments to some suppliers in recent days as its USA division heads toward a likely liquidation, according to people with knowledge of the situation.

The toy megastore Toys "R" Us is reportedly shutting down all of its USA stores this week after the bankrupt company was not able to find a buyer, according to reports last week. Company executives have said those stores would begin liquidating inventory in February and be closed by mid-April. Fifteen locations in NY were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April.

The retailer is expected to announce this week that it's liquidating its entire US operation, going out of business, and closing all of its 620 remaining stores.

In recent years, the toy retail giant has been losing tons of its customers to places like Amazon, Walmart and Target. A representative for Wayne, New Jersey-based Toys R Us declined to comment.

The retailer has faced pressure from online retailers and a hefty debt load.

The company also operates a Toys R Us and Babies R Us store across from Colonie Center and a Toys R Us store in Clifton Park that were not included on the list of closures but would be affected by the retailer's liquidation. Toys R Us accounted for about 10% of the companies' sales.

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