- Toys R Us announced in March that it would close or sell all 735 of its stores in the United States.
- Going-out-of-business sales began shortly after the announcement. The sales will last until stores run out of inventory.
- To see what the stores are like as they near closing, we visited three different Toys R Us locations in New York City.
Toys R Us filed a motion to liquidate its business in the United States in March, just five months after filing for Chapter 11 bankruptcy protection. Toys R Us’ liquidation includes plans to close all 735 of its remaining stores, with going-out-of-business sales now taking place at all of its US locations.
In late March, we visited a Toys R Us store in Yonkers, New York, that was part of an earlier round of store closures, and it was a grim look into the company’s future.
As more Toys R Us stores prepare to close their doors, we visited three different locations in Queens and Manhattan. The stores were in a depressing state — lights were flickering, there were stacks of boxes everywhere, and empty shelves lined the walls.
Here’s what it was like:
The first Toys R Us I stopped at was in Rego Park in Queens, New York. It was part of a busy shopping center that also had Costco, Kohl’s, and Bed Bath & Beyond stores, as well as a number of other massive stores.
The outside of the store was plastered with signs advertising up to 40% off everything and new merchandise daily.
The store looked surprisingly full when I walked in. There were bright signs advertising the going-out-of-business sale, and there were a lot of people shopping.
See the rest of the story at Business Insider
See Also:
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- Retail defaults are at an all-time high — here are all the bankruptcies and liquidations so far in 2018
