It's official: Toys "R" Us, Babies "R" Us closing all stores - WFMJ.com News weather sports for Youngstown-Warren Ohio

Senator urges company to make good on gift cards

It's official: Toys "R" Us, Babies "R" Us closing all stores

Posted: Updated:

21 News reported it earlier this week.  Now it's official.

A 124-page filing in U.S. Bankruptcy court outlines plans to shut down and liquidate the remaining 735 Toys “R” Us and Babies “R” Us stores.

Included in that number are Toys “R” Us stores in Boardman and Niles and a Babies “R” Us in Boardman.

City insurmountable financial circumstances, Toys “R” Us said that the most recent holiday sales came in well below the worst-case projections.

Factors behind the decision include supply chain delays, competition from Amazon, Walmart, and Target, as well as a greater than expected decline in toy and gift card sales following the decision to file Chapter 11 bankruptcy.

The company says to remain open, they would expect to burn $50 million to $100 million per month.

The company says it has issued notices of termination to U.S. Employees consistent with state and federal Worker Adjustment and Retraining Notification Act., which generally require a 60-day notice period.

Toys “R” Us says it has worked with their lenders to develop a budget that ensures that all employees will continue to be paid for no fewer than 60 days.

The company has asked the court to authorize going out of business sales at all of the stores.

U.S. Senator Charles Schumer is urging the Federal Trade Commission to step in to ensure consumers have time to get cash back for unused gift cards.

“I am urging the company to redeem outstanding gift cards for cash so they are not as worthless and unwanted as a lump of coal in a stocking,” said Senator Schumer.

A copy of Thursday's court filing may be seen here

  • News WatchNews WatchMore>>

  • Planned Parenthood sees swift fallout from quitting program

    Planned Parenthood sees swift fallout from quitting program

    Thursday, August 22 2019 9:20 AM EDT2019-08-22 13:20:52 GMT
    (AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...(AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...
    (AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...(AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...
    Planned Parenthood sees swift fallout over its decision to quit family planning program.More >>
    Planned Parenthood sees swift fallout over its decision to quit family planning program.More >>
  • Trump signs student debt forgiveness for disabled veterans

    Trump signs student debt forgiveness for disabled veterans

    Thursday, August 22 2019 9:10 AM EDT2019-08-22 13:10:30 GMT
    (AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...(AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...
    (AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...(AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...
    President Donald Trump plans to discuss his commitment to the military during an address to a gathering of veterans.More >>
    President Donald Trump plans to discuss his commitment to the military during an address to a gathering of veterans.More >>
  • Woman hit by car in Youngstown

    Woman hit by car in Youngstown

    Thursday, August 22 2019 9:10 AM EDT2019-08-22 13:10:07 GMT

    Traffic investigators and and ambulance were called out to a pedestrian accident in downtown Youngstown early Thursday. 

    More >>

    Traffic investigators and and ambulance were called out to a pedestrian accident in downtown Youngstown early Thursday. 

    More >>
  • More NewsMore>>

  • Planned Parenthood sees swift fallout from quitting program

    Planned Parenthood sees swift fallout from quitting program

    Thursday, August 22 2019 9:20 AM EDT2019-08-22 13:20:52 GMT
    (AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...(AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...
    (AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...(AP Photo/Rick Bowmer). Misty Dotson hugs her son's at their home Tuesday, Aug. 20, 2019, in Murray, Utah. Dotson is a 33-year-old single mother of two boys, ages 12 and 6, who goes to Planned Parenthood for care through the Title X program. Dotson is ...
    Planned Parenthood sees swift fallout over its decision to quit family planning program.More >>
    Planned Parenthood sees swift fallout over its decision to quit family planning program.More >>
  • 'Tod Family Treasures' exhibit to open at Arms Museum

    'Tod Family Treasures' exhibit to open at Arms Museum

    Thursday, August 22 2019 9:12 AM EDT2019-08-22 13:12:09 GMT
    Photo courtesy of Mahoning Valley Historical Society. Collection pieces donated by Charles and Penelope Curry (Bedroom Suite) and loaned by David Tod II (China)Photo courtesy of Mahoning Valley Historical Society. Collection pieces donated by Charles and Penelope Curry (Bedroom Suite) and loaned by David Tod II (China)
    Photo courtesy of Mahoning Valley Historical Society. Collection pieces donated by Charles and Penelope Curry (Bedroom Suite) and loaned by David Tod II (China)Photo courtesy of Mahoning Valley Historical Society. Collection pieces donated by Charles and Penelope Curry (Bedroom Suite) and loaned by David Tod II (China)

    The Mahoning Valley Historical Society is unveiling a new exhibit Friday. The new exhibit, "Tod Family Treasures: 19th Century Heirlooms", features decorative arts including family portraits, silver, china and more

    More >>

    The Mahoning Valley Historical Society is unveiling a new exhibit Friday. The new exhibit, "Tod Family Treasures: 19th Century Heirlooms", features decorative arts including family portraits, silver, china and more

    More >>
  • Trump signs student debt forgiveness for disabled veterans

    Trump signs student debt forgiveness for disabled veterans

    Thursday, August 22 2019 9:10 AM EDT2019-08-22 13:10:30 GMT
    (AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...(AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...
    (AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...(AP Photo/Susan Walsh). President Donald Trump walks up the steps of Air Force One at Andrews Air Force Base in Md., Wednesday, Aug. 21, 2019. Trump is traveling to Louisville, Ky., to deliver remarks to the American Veterans (AMVETS) 75th National Con...
    President Donald Trump plans to discuss his commitment to the military during an address to a gathering of veterans.More >>
    President Donald Trump plans to discuss his commitment to the military during an address to a gathering of veterans.More >>
Powered by Frankly
All content © Copyright 2000 - 2019 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms