Today Is the Day Every Last Toys R Us Store Closes
01 July, 2018, 10:25 | Author: Shawna Walton
Like the store in Raleigh, Toys "R" Us other 700 stores across the USA shut down after the 70-year-old company fell victim to financial turmoil.
This is it for Toys R Us.
America's last remaining Toys "R" Us stores will close for good today, after a final Friday of clearance sales.
"Thanks to each of you who shared your wonderful journey to (and through) parenthood with us, and to every grandparent, aunt, uncle, brother and sister who's built a couch-cushion rocket-ship, made up a hero adventure, or invented something gooey".
The gutting news of the company going into admisntration was followed by even more tragic news in March this year whenToys "R" Us founder Charles P Lazarus died at the age of 94. There was also the heavy debt load Toys R Us had to bear after the company was purchased by private-equity firms Bain Capital and KKR & Co.in a $6.6 billion leveraged buyout in 2005.
But several of Toys "R" Us' old competitors are already eyeing to fill the void.
In 2017, Toys "R" Us filed for bankruptcy and in March 2018 the company announced it was going out of business and closing all USA stores.
Retailers like Walmart and Target were expanding their toy aisles to fill the hole, while Party City is opening 50 pop-up toy shops this fall. "They likely went through the Raleigh liquidator", the employee said.
The toy manufacturer filed for bankruptcy late a year ago but did not succeed in turning its fortunes around and in January it announced it would close 182 stores across the U.S.
Patty Van Fossan, a long-time employee from OH said of the closure: 'I'm never going to have a job like Toys R Us.
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