Mattel Inc.

Toys R Us to close all 800 of its U.S. stores, affecting 33,000 jobs

Toys R Us to close all 800 of its U.S. stores, affecting 33,000 jobs

Toy store chain Toys R Us is planning to sell or close all 800 of its U.S. stores, affecting as many as 33,000 jobs as the company winds down its operations after seven decades, according to a source familiar with the matter.

The news comes six months after the retailer filed for bankruptcy. The company has struggled to pay down nearly $8 billion in debt - much of it dating back to a 2005 leveraged buyout - and has had trouble finding a buyer. There were reports earlier this week that Toys R Us had stopped paying its suppliers, which include the country's largest toy makers. On Wednesday, the company announced it would close all 100 of its U.K. stores. In the United States, the...

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