Toys R Us May Close ALL U.S. Stores
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Toys “R” Us is preparing to shut down its U.S. operations and liquidate its assets, the company reportedly took out a $3.1 billion loan to keep the stores open during the holidays, hoping that would be enough to turn the toy store around, but Christmas sales were worse than expected. Now they’re hoping a buyer can get them out of this debt hole. The toy biz is so bad that even Santa has gotten rid of his workshop elves and just hired nerds to come in and develop apps with in-app purchases.
Read more at bloomberg.com.
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