Toys R Us has announced that it will shut down all of its 735 stores in the United States. After seventy years in business, the superstore chain has been financially suffering the past few years. Their struggle was made public in September of 2017 when they filed for bankruptcy. In January, it was announced that 182 stores would close. One month later, an additional 200 stores met a similar fate.
The company had been hurt by competition from superstores like Target and Wal-Mart. Amazon made things substantially worse for Toys R Us sales across the nation. Last year’s holiday season brought in dismal profits, and the company missed their target last quarter by 250 million dollars.
“I am very disappointed with the result, but we no longer have the financial support to continue the company’s U.S. operations,” said Toys R Us CEO David Brandon. The closing date was never specifically announced. Thirty-one thousand employees will lose their jobs.
This marks the end of an era. For decades, Toys R Us was a fun place for children and adults alike. It could always cover last-minute holiday shopping or birthday gifts. Now, all of that can be done online, and going to a store is inconvenient. The future is truly now, but at what cost?