According to a source, Toys R Us plans to close and/or sell all 800 US stores. This comes after the retailer filed for bankruptcy six months ago. Their financial problems date back to a leveraged buyout in 2005 which saddled the company with a debt level that finally toppled them due to declining sales related to competition from Amazon.
The closure of the stores is expected to be staggered over the next year rather than an abrupt shutdown of all stores at once.
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