Toys ‘R’ Us plans to close all U.S. stores; 30,000 jobs at risk

The Globe and Mail:

Toys ‘R’ Us Inc, the iconic toy retailer, will shutter or sell its stores in the United States after failing to find a buyer or reach a deal to restructure billions in debt, putting at risk about 30,000 jobs.

The closure is a blow to hundreds of toy makers that sell their products at the chain’s U.S. stores, including Barbie maker Mattel Inc, board game company Hasbro Inc and other vendors like Lego.

“This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years,” Chief Executive Officer Dave Brandon said.

Devastating news for the industry, the employees and all of us, young or old, who loved going to Toys ‘R’ Us.