Toys R Us is going out of business, closing all stores

Mattel Inc

Toys R Us is going out of business, closing all stores

Toys R Us now has about 800 stores in the United States.

Toys R Us has missed payments to some suppliers in recent days as its USA division heads toward a likely liquidation, according to people with knowledge of the situation. The company filed for bankruptcy protection less than six ago.

The kids may not wanna grow up, but they'll still have to do it - and without Toys "R" Us.

In the Bay Area, a complete shutdown would mean the closure of 19 Toys R Us and Babies R Us stores, not including nine local stores that the company in January announced would close as part of its effort to shutter 182 stores across the country and emerge from bankruptcy. Toys R Us has also pushed back its bankruptcy court date three times - another sign things aren't going well. In January, stores in Cherry Hill, New Jersey and Exton, Pennsylvania became a part of a growing list slated to close after the retailer entered bankruptcy a year ago. The toy stores could be closing its doors as soon as next week. Both Hasbro and Mattel saw a decline in sales past year, and now the toy companies are losing one of their biggest retailers.

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Toys R Us has been struggling for months to stay in business and now multiple reports suggest the toy retailer could be calling it quits.

"From product expertise to in-store events, independent retailers are connected to their customers and their community in ways unmatched by online or mass market", said Kimberly Mosley, President of the American Specialty Toy Retailing Association, in a news release about the survey.

"To our loyal customers: We've seen an fantastic outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday.

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