The toy megastore Toys "R" Us is reportedly shutting down all of its USA stores this week after the bankrupt company was not able to find a buyer, according to reports last week.
Liquidation would mean the closure of all the chain's stores, including locations in Springfield, Auburn, Everett, Saugus, Braintree, Peabody and Woburn.
There's no word as of now on what exactly this all means for Babies "R" Us, but seeing as many Toys "R" Us locations also house the baby gear superstore, this could mean that expectant moms may have to look elsewhere when it comes time to create a registry. 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 previous year.
The retailer is expected to announce this week that it's liquidating its entire US operation, going out of business, and closing all of its 620 remaining stores.More news: Tremendous positive energy, warmth & genuine affection at Sonia Gandhi dinner: Rahul
Back in January, I shared with you guys that Toys R Us would be closing 182 stores nationwide.
But industry insiders say that without a dedicated toy retailer pushing the segment year-round and not just at Christmas, toy makers will have trouble introducing new products instead of the old standbys.
The struggles of Toys "R" Us have taken a toll on the two largest toymakers, Hasbro Inc. and Mattel Inc. Rhode Island's Hasbro has its board games manufactured by Cartamundi in East Longmeadow. "We heard initially they were closing some of the stores and now we're hearing they're closing all of the stores so sales are even higher", said Mary Mancini, of Downingtown.
"To our loyal customers: We've seen an awesome outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday.