Bloomberg is reporting that Toys “R” Us is preparing to shut down its U.S. operations and liquidate its assets.
The retailer entered bankruptcy last year with $5 billion in debt. Their sales were hammered during the past holiday season.
In January of 2018, Toys “R” Us closed 6 stores in Michigan. Those stores were:
- Ann Arbor: Babies R Us at 3725 Carpenter Road
- Ann Arbor: Toys R Us at 3725 Washtenaw
- Grand Rapids: Babies R Us at 4923 28th Street South East
- Lansing: Babies R Us at 5900 W. Saginaw Highway
- Muskegon: Toys R Us at 5363 Harvey Street
- Traverse City: Toys R Us at 2620 Crossing Circle MI
The chain operates 866 Toys R Us and Babies R Us stores in the United States and Puerto Rico, more 750 international stores and more than 245 licensed stores in 37 countries and jurisdictions.
Those stores employ about 60,000 people – up to 100,000 during the holiday season. There are still hopes that a buyer will emerge to keep some of the business operating.