Closing Time Looms for All Toys R Us Stores

Closing Time Looms for All Toys R Us Stores

But what does that mean for parents shopping for the next must-have toy?

Nothing is finalized regarding the liquidation just yet, but it seems like a dire enough situation that you may want to take a nostalgic stroll with your kids through the Toys "R" Us stores of your childhood before they're all gone.

The payments stopped without explanation, said the people, who asked not to be identified because the matter is private.

Shares of Hasbro and Mattel slipped on the Toys R' Us news. The company filed for bankruptcy protection less than six ago.

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Toys "R" Us also announced in February that it would also close locations in Dedham, Millbury, Bellingham, Northborough and Framingham. Bloomberg reported last week that the retailer was making preparations for a liquidation of its domestic business. Officials are said to be losing hope that lenders can agree on terms of a debt restructuring, but the company has declined to comment on the speculation. The announcement is expected to happen this week, when the retailer is scheduled to appear in court for a bankruptcy hearing, the Wall Street Journal reported. Things are even looking a little bleak for larger toy companies like Mattel and Hasbro, which both experienced drops in the stock market once the Toys "R" Us news started flying this month.

The retailer is expected to announce this week that it's liquidating its entire US operation, going out of business, and closing all of its 620 remaining stores.

The struggles of Toys R Us have taken a toll on the two largest USA toymakers, Hasbro and Mattel.

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