It's the beginning of the end for Toys R Us. Six months after filing for bankruptcy protection in the United States, and one month after a similar collapse in the UK , the company is now reportedly planning to shut down every single one of its stores in both countries. That's some 900 stores and 36,000 jobs in total.
According to The Wall Street Journal , CEO David Brandon told employees today that the company might still attempt to sell its stores in the United States, but we're talking about a liquidation process now, instead of finding a buyer for the entire business.
"We're putting a sale sign on everything," he reportedly told employees.