R.I.P. Toys ‘R’ Us: Company Planning on Closing ALL Stores
If you were a Toys"R"Us kid I'e got some bad new for you - its time to grow up! The popular toy company announced this morning (March 12) that they will be closing all of their stores.
The company filed chapter 11 bankruptcy back in September and it was announced in January that they were planning on closing 180 of their stores, including the Rapid City location will close. According to FoxCarolina, stores could be closing as early as this week.
And it isn't just longtime toy fans that are feeling the pain. According to Forbes, toy makers are being hit hard as well: "There are obvious implications for the toy industry if this plays out as we might expect. Shares of Hasbro and Mattel, for example, tumbled last week on the news."
The company just couldn't keep up with Walmart and Amazon, plus with people buying online, the company was destined to close up shop. The company entered this year with more than 800 stores in the U.S. So if you want to score some deals on planes to trains to video games, now is the time to do it because there will no longer be any Toy R Us kids.