Toys 'R' Us to announce closure of stores nationwide, according to report

When Toys R Us closes, the toy industry feels it. Now toy companies will have to battle with the big-box stores like WalMart and Target for the much valued and limited shelf space inside their stores and count on Amazon for their sales.

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 fun could be over for Toys "R" Us as the chain reportedly has missed payments to its suppliers without explanation and prepares to file a liquidation plan with a U.S. Bankruptcy Court. "They said with liquidation they can't do any returns or exchanges", said Mancini.

For those who need a Toys R Us fix, remaining stores in the Bay Area include a shiny new store in Concord that opened just before the end of 2017, as well as locations in Dublin, Gilroy, Fremont, Hayward, Livermore, Milpitas, Redwood City, San Mateo, San Bruno, Salinas, San Jose, Santa Cruz, Sunnyvale, Vallejo and Colma.

A representative for Wayne, New Jersey-based Toys "R" Us declined to comment.

"To our loyal customers: We've seen an fantastic outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday. David Fiorenza, an economics professor at the Villanova School of Business, said online retailers gain an advantage with tax breaks if nationwide closures happen. Their shares dropped last Friday after Bloomberg announced the possible Toys R Us liquidation and lost ground again after word of the missing vendor payments. Its scale gave it leverage with toy sellers and it disrupted general merchandise stores and mom-and-pop shops.

(Copyright © 2015. All Rights Reserved.)
 
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