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March 14, 2018 11:20 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/4kYjnGenkSM/toys-r-us-to-close-all-800-of-its-us-stores
Toys R Us To Close All 800 of Its US Stores
Toy store chain Toys R Us is reportedly planning to sell or close all 800 of its U.S. stores (Warning: source may be paywalled; alternative source), affecting as many as 33,000 jobs as the company winds down its operations after six decades. The Washington Post reports: The news comes six months after the retailer filed for bankruptcy. The company has struggled to pay down nearly $8 billion in debt -- much of it dating back to a 2005 leveraged buyout -- and has had trouble finding a buyer. There were reports earlier this week that Toys R Us had stopped paying its suppliers, which include the country's largest toy makers. On Wednesday, the company announced it would close all 100 of its U.K. stores. In the United States, the company told employees closures would likely occur over time, and not all at once, according to the source, who spoke on the condition of anonymity because they were not authorized to discuss internal deliberations.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/4kYjnGenkSM/toys-r-us-to-close-all-800-of-its-us-stores
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