Toys R Us said to be planning to liquidate its US operations

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FILE – In this Friday, Nov. 25, 2016, file photo, shoppers shop in a Toys R Us store on Black Friday in Miami. Toys R Us, the pioneering big box toy retailer, announced late Monday, Sept. 18, 2017 it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. (AP Photo/Alan Diaz, […]

NEW YORK (AP) — Toys R Us’s management has told its employees that it will sell or close all of its U.S. stores.

That’s according to a toy industry analyst who spoke to several employees who were on the call Wednesday.

Jim Silver, a toy industry expert, says Toys R Us’s CEO told employees the plan is to liquidate all of its U.S. stores and after that, it could do a deal with its Canadian operation to run some of its U.S. stores.

The company declined to comment.

The chain filed for Chapter 11 bankruptcy protection last fall, saddled with debt that hurt its attempts to compete.

It pledged then to stay open, but had weak sales during the critical holiday season. In January it announced plans to close about 180 stores. 

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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