Following on from yesterday’s sad news about all the UK branches of Toys ‘R’ Us UK closing, and the expectation that the US operation would go into liquidation — today we learn that all the US stores will close too.
Toys R Us is to close all of its stores in the USA, following suit with its UK operation after it too failed to find a buyer.
Deemed a “profoundly sad day” in a statement by Dave Brandon, Chairman and CEO of Toys R Us, the US toy giant’s estate of 735 US stores will shut their doors, putting up to 30,000 out of work.
“There are many people and organisations who have remained in our corner every step along the way. I want to thank our extraordinary team members who helped build Toys“R”Us into a global brand,” added Dave. “I also want to express my appreciation for my colleagues on our board who have continued to provide support to sustain the brand and our operations throughout the restructuring process. I would also like to thank our vendors who we owe a great deal of gratitude to for their decades of support.”
In a statement the company also announced that talks to find a buyer for its Canadian and international operations in Asia and Europe, including Germany, Austria and Switzerland, would continue. All stores in these markets remain open for trade for the time being.
Sad news indeed….
