Toys R Us likely to close all stores in country

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The retailer is likely to liquidate in France, Spain, Poland and Australia, Brandon said, according to the Wall Street Journal.

The company declined to comment.

It was a good feeling, but one that would ultimately prove fleeting: as the retailer's popularity waned, Toys "R" Us was left struggling to make ends meet, and in 2015 the company filed bankruptcy citing $4.9 billion in debt.

The chain announced in January it was closing 180 locations, roughly 20 percent of its retail footprint. And eventually a generation came of age in a world where you didn't need to go to a store to buy toys. However, many have been trying to diversify in recent months as they anxious about the chain's survival.

At a Toys R Us store in Bailey's Crossroads, a Virginia suburb of Washington, D.C., numerous shoppers were turning up to spend their gift cards, anxious about the impending closings.

"Lenders are going to fiercely resist that", he said.

It is thought that Moorfields will now begin a six-week "wind down" of the store estate.

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Once the country's preeminent toy retailer, Toys R Us has been unable to keep up with big-box and online competitors.

The planned closure in coming months is a blow to generations of consumers and hundreds of toy makers that sold products at the chain, including Barbie maker Mattel Inc, board game company Hasbro Inc and other large vendors such as Lego. Generally, foot traffic is falling at brick-and-mortar stores. Target and Walmart have been expanding their toy selections.

Toys R Us collapsed into administration towards the end of February after being hit by crippling debts in the U.S., a significant pension hole in the United Kingdom and a hard trading environment. GlobalData Retail estimates that almost 14 per cent of toy sales were made online in 2016, more than double the level five years ago.

Toys "R" Us is expected to close hundreds of stores worldwide as well.

It's up to the bankruptcy court to decide if Toys "R" Us can honor the cards.

"We know that customers are willing to pay more for an enjoyable experience - just look at the lines at Starbucks every day - but Toys R Us has failed to give us anything special or unique", said Kelly O'Keefe, a Virginia Commonwealth University business professor. The plan had been to take the company public again, but weak sales have prevented that from happening. He added toys two years later and opened the first Toys "R" Us, modeled after self-service supermarkets, in 1957. "It was a fun place to visit your child". A Toys R Us remains in South Portland.

They "will all live to regret what's happening here", Brandon said.