Report: Toys "R" Us to close all stores
A financial news publisher is reporting that Toys “R” Us is preparing to close all of its stores in the United States.
A financial news publisher is reporting that Toys “R” Us is preparing to close all of its stores in the United States.
The company, which has stores in Niles and Boardman, is preparing to liquidate its bankrupt operations after it couldn't restructure the company's debt, according to Bloomberg.com.
Sources that Bloomberg says are close to the situation tell them that Toys “R” Us is unable to fund a buyer for its operations in the United States.
In January the operator of the national retail chains Toys “R” Us and Babies “R” Us announced plans to close 182 stores as part of its bankruptcy reorganization plan.
Four stores in Ohio and nine stores in Pennsylvania were on the January closing list.
According to the company website, Toys “R” Us operates stores in the Eastwood Mall Complex in Niles and along Boardman Poland Road in Boardman.
A Babies “R” Us store is located on Doral Drive in Boardman.
At the time of the previous announcement, Toys “R” Us said that some of the stores could remain open if more favorable lease agreements are negotiated, but the majority of the stores earmarked for shutdown had been unprofitable.
