Heartland Toys R Us stores to close

Toys R Us

In the liquidation filing, Toys R Us blamed its poor holiday performance on Walmart, Target, and Amazon pricing their toys low enough that it couldn't compete and make a profit.

Toys "R" Us is billions of dollars in debt and filed for bankruptcy protection in September.

How successful landlords will be in filling empty stores will depend on the quality of the properties and their locations, according to research by CoStar Group Inc.

Toys R Us told corporate employees on Wednesday that it will shutter all 800 of its stores, affecting as many as 33,000 workers, about six months after the company filed for bankruptcy.

Employees at several midstate stores reached Thursday morning said they heard the announcement that the debt-riddled New Jersey-based toy retail giant, known for the giraffe mascot, is running out of cash and must liquidate its stores.

Cenac sells his products online through Amazon, which he said helps pays his rent and is a main reason that his physical store is able to stay open.

"I fight. I will fight them", he said.

Etoys went bankrupt in 2001, just two years after the online toy retailer went public in 1999 during the peak of dot com mania.

"Where Toys "R" Us missed a trick was with these online games and services and things that are engaging kids every single day and throughout the year", Black said.

Even with vacancies, some properties are still "viable commercial real estate", Ed Reardon, an analyst at Deutsche Bank AG, wrote in a note to clients.

The company that owns Carson's stores is in the process of closing several IL locations this year, although the Joliet store is not closing.

"You have to look at this as an opportunity to reposition that store", she said.

More updates are here concerning Toys" R " Us' bankruptcy and liquidation plans.

The Babies "R" Us - the baby brand launched in 1996 - store is nothing but a shadow of its former self, with banners boasting discounts up to 60 percent.

But when the news hit this week, they found out that won't be the case. The company also announced it would close all 100 of its United Kingdom stores as well as its stores in Canada.

"My first toy came from Toys "R" Us when I was young, and I had a Barbie corvette that you could drive", recalled Raven Cornell, 29, at a Toys "R" Us in Fayetteville, Georgia. The already-announced administration of its United Kingdom business will continue, the company said. It had a 20-year run before all 146 stores were closed in 2003.

Over the decades, children used Toys R Us as a playground where they would meet others they wouldn't see in the schoolyard.

Closing sales already have begun at 144 stores - including six in the Chicago area - that Toys R Us earlier this year chose to shut down.

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