Toys R Us is preparing to close all US stores, meaning liquidation sales are imminent across all 800 US store locations. CNN has reported that apparently there were plans to hold these liquidation sales from yesterday, however they’ve been pushed back to this morning, March 23rd.
It’s been weeks since Toys R Us stores have received any stock, so consumers hoping to grab a bargain need to curver their expectations and move quickly if they want to get what they came for, if indeed it’s in that store at all. Shelves are expected to be empty as soon as within a month, as these sales will be highly anticipated by those with children.
However, many of the more popular items are thought to either be sold out entirely, or sell out before anything else as soon as stores open their doors for the sales to begin.
Any gift cards for Toys R Us will be honoured until the 20th of April. Stores will also accept returns on products made before the liquidation for 30 days, but any sales made from this point on will be final and not subject to return.
UK Toys R Us stores are also planned to be shut down over the next month or so, while the Asia stores will remain open. Toys R Us’ Asia stores are by far the most profitable and are performing well, so will not be closed.
News of the liquidation sale is bittersweet, as 31,000 employees will be laid off as a result of the closure of these 800 stores. In the UK the administrators brought in to help avoid such circumstances had a few hopeful prospective buyers, however the fact that the company name is owned by the American parent company would make things more work than they’re worth. As a packaged Toys R Us proved too hard to sell and so has had to go into liquidation as a result of overwhelming debts.
The habits of shoppers have changed over the years, as have high street shops, resulting in the high street becoming the one stop they want to make for all their needs. Coupled with the increasing number of online competitors, companies such as Toys R Us are falling by the wayside, their employees with them.