Toys R Us Likely Going Out Of Business

They initially were planning to file for bankruptcy and restructure their stores, now Toys R Us says they will likely completely toss in the towel.

Back in January Toys R Us announced they would be filing for Chapter 11 bankruptcy and would close 180 stores nationwide as part of a restructuring plan.

Now the company says they are considering liquidating all locations and completely going out of business.

The Wall Street Journal reports that the toy company is preparing to shut it all down after a weak holiday season destroyed their plans to restructure.

They had hoped to be able to close hundreds of stores and revamp their online presence to make the company more profitable, but after Christmas came to a close that didn't seem as feasible.

The British arm of Toys R Us has already gone into insolvency, putting over 3,000 jobs at risk.

No word on when things could start to shut down stateside, but parents should certainly keep their eyes peeled for super toy savings in the near future.