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Toys 'R' Us will likely shut all U.S. stores, risking 33,000 jobs: WSJ

Reuters 

(Reuters) - Iconic chain Inc will sell or close all its U.S. stores in the coming months, risking up to 33,000 jobs, reported on Wednesday.

The announcement was made to workers by at the toy-store chain's Wayne, headquarters, the Journal said

The closure of is a blow to generations of consumers and hundreds of that sold their products at the chain's 885 U.S. locations, including Barbie maker , board game company and other large vendors such as Lego.

Toys 'R' Us, which has roughly 33,000 full- and part-time U.S. employees, was already in the process of closing one fifth of its stores as part of efforts to emerge from one of the largest ever bankruptcies by a

Efforts collapsed this month after lenders decided, absent a clear reorganization plan, they could recover more in a liquidation, closing stores and raising money from merchandise sales, sources with knowledge of the matter said.

"I have always believed that this brand and this business should exist in the U.S.," Brandon said on a conference call with staff, said.

The retailer is likely to liquidate in France, Spain, and Australia, Brandon said, according the newspaper. He added that also planned to sell operations in Canada, and

Toys 'R' Us is trying to package its Canadian business with 200 U.S. stores and find a buyer, the said, according to the Journal.

(Reporting by and Sangameswaran S in Bengaluru and Tracy Rucinski in Chicago; Editing by Sai Sachin Ravikumar)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, March 15 2018. 03:54 IST
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