Sad news to report concerning the one time toy giant. Toys 'R' Us will likely close or sell all of their stores in the entire U.S. and UK.

According to the Washington Post, more than 33,000 workers could be losing their jobs as the company plans to shut down or sell-off its entire operation.

The Wall Street Journal reports that Toys 'R' Us which has been in business for 70 years, filed for bankruptcy in September 2017. Holiday sales were slow and sluggish which did not help matters at all.

Company headquarters are located in Wayne, New Jersey. Workers will receive at least 60 days of salary and benefits according to the report.

800 locations in the U.S. will now be closed or sold including over 40 Toys R Us and Babies R Us locations in the Garden State. South Jersey locations include Tanger Outlets in Atlantic City, Mays Landing, Cherry Hill, and The Cumberland Mall in Vineland.

 

Sources: wsj.com washingtonpost.com

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