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.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Israel intercepts 2nd Gaza aid flotilla in a weekSpeed Read The Israeli military intercepted a flotilla of nine boats with 145 activists aboard along with medical and food aid
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Bondi stonewalls on Epstein, Comey in Senate face-offSpeed Read Attorney General Pam Bondi denied charges of using the Justice Department in service of Trump’s personal vendettas
-
Gold tops $4K per ounce, signaling financial unease
Speed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
