Final Toys R Us stores to close by Friday

By RetailFOXBusiness

Toys ‘R’ Us failed to evolve digitally, retail expert says

Toys ‘R’ Us is closing its remaining 740 stores in the U.S. and eliminating an estimated 30,000 jobs. Mary Epner of Mary Epner Retail Analysis discusses the demise of the 70-year-old retailer.

The final Toys R Us stores were closing Friday as the once-venerable retailer concludes its bankruptcy proceedings and shutters after decades of business.

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The New Jersey-based toy retailers said all Toys R Us and Babies R Us locations were ending operations Friday. Some U.S. store locations had closed as early as Tuesday, USA Today reported.

Stores will have sales of up to 90% off as the company looks to clear its remaining inventory, though shelves at many stores are already largely bare. Empty aisles will be cordoned off with yellow caution tape, the newspaper said.

Toys R Us touted its going-out-of-business sale on Twitter over the weekend.

The toy chain’s operations have been winding down since last March, when company officials said they would close or sell all of the more than 700 U.S. store locations and liquidate remaining toy inventory at stores. Toys R Us failed to find a buyer after declaring bankruptcy last September.

Roughly 30,000 employees are expected to lose their jobs as a result of the store closures.

Party City, a one-time competitor for the brand, said Monday it would launch 50 pop-up toy stores during the holiday season to fill the void left by the Toys R Us closure.

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