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Toys R Us Kids in trouble

CEO: close or sell roughly 800 U.S. stores
Posted at 6:18 AM, Mar 15, 2018
and last updated 2018-03-15 07:18:44-04

New York (KMTV) – Toys R Us is headed towards shuttering its U.S. operations, jeopardizing the jobs of some 30,000 employees while spelling the end for a chain known to generations of children and parents for its sprawling stores and Geoffrey the giraffe mascot.

The closing of the company’s roughly 800 U.S. stores over the coming months will finalize the downfall of the chain that succumbed to trends that undercut its business, from online shopping to mobile games.

Management told its employees that the company will either sell or close the locations.

The CEO reportedly told employees the plan is to liquidate all of its U.S. stores and after that, it could do a deal with its Canadian operation to run some of its U.S. stores, according to toy industry expert Jim Silver.