Speed Reads

End of an Era

Report: Toys 'R' Us to shut down all U.S. stores

Six months after filing for bankruptcy, Toys "R" Us plans on selling or closing its 800 stores in the United States, a person with knowledge of the matter told The Washington Post.

The company announced Wednesday that it will shut down all 100 of its stores in the United Kingdom. The toy retailer has had difficulty competing with Amazon and Walmart, and in January, it announced it was closing 182 U.S. stores. Toys "R" Us was founded six decades ago, and employs about 33,000 people. The closures are not expected to happen all at once, the Post reports.