Toys ‘R’ Us Could Be Closing All Of Its US Stores Putting 33,000 Jobs At Risk

Toys ‘R’ Us Inc may have to sell or close all of its stores in the US putting 33,000 jobs at risk. Not only will this affect Toys ‘R’ Us employees, but it will further impact large toy manufacturers as well. 

The sad news was reported earlier today by The Wall Street Journal as the retail company informed its employees of the chain's closures this week. The toy retailer currently has around 700 stores in locations all across the country. 

However as reported by CNBC, there is a backup plan in the works that could at least save 200 stores from closing down forever.

The company plans to sell some of its stores to a new buyer that could keep some of the stores afloat.

That being said, no definite buyer is on the card at the moment and CNBC also said there's a chance there could be no buyers interested at all. Toys 'R' Us chose not to comment to CNBC on the matter. 

Due to the closure of the big toy retailer, stock prices for toy companies such as Mattel, Hasbro and Lego have dropped this week.

This is upsetting news mainly because the toy industry is already struggling thanks to strong competition from the booming technology business.

Last Holiday period, both Mattel and Hasbro's revenues dropped thanks to a fall in sales. Not even big licenses such as DC and Star Wars were able to push the companies forward last year. 

Sales are sure to drop even further with the closure of many Toys 'R' Us store across the US. Toy collectors will now have to go to Walmart, Amazon and other retail stores in order to get the latest action figures. 

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