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Toys 'R' Us plans to close all U.S. stores; 33,000 jobs at risk: source
March 14, 2018 5:51 PM EDTBy Tracy Rucinski
(Reuters) - Bankrupt Toys 'R' Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, a person familiar with the matter said on Wednesday.
With shoppers flocking to online platforms like Amazon.com Inc (NASDAQ: AMZN) and children choosing electronic gadgets over toys, Toys 'R' Us has struggled to service debt from a $6.6 billion leveraged buyout by private equity firms KKR & Co LP (NYSE:... More
