The chain had already announced the shutdown of a Babies "R" Us location in the Holyoke Mall. Fifteen locations in NY were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April. In January, stores in Cherry Hill, New Jersey and Exton, Pennsylvania became a part of a growing list slated to close after the retailer entered bankruptcy past year.
Earlier in 2018, the company announced it would close about 180 stores as part of its bankruptcy restructuring, which included Babies R Us stores.
According to Jefferies analyst Stephanie Wissink, Toys R Us accounted for 15 to 20 percent of USA toy sales past year. "They said with liquidation they can't do any returns or exchanges", said Mancini.
Nothing is finalized regarding the liquidation just yet, but it seems like a dire enough situation that you may want to take a nostalgic stroll with your kids through the Toys "R" Us stores of your childhood before they're all gone. CNNMoney reports toymakers Hasbro, Mattel, and Jakks Pacific all saw their shares of their stock fall after news broke of the bankruptcy - and it comes at a bad time for the toy industry. The toy stores could be closing its doors as soon as next week.
The retailer is expected to announce this week that it's liquidating its entire USA operation, going out of business, and closing all of its 620 remaining stores. Toys R Us accounted for about 10% of the companies' sales.
"From product expertise to in-store events, independent retailers are connected to their customers and their community in ways unmatched by online or mass market", said Kimberly Mosley, President of the American Specialty Toy Retailing Association, in a news release about the survey.