Toys R Us is preparing for liquidation and may shutter all of its roughly 800 U.S. stores, according to multiple media reports.
The retailer has faced pressure from online retailers and a hefty debt load. The announcement is expected to happen this week, when the retailer is scheduled to appear in court for a bankruptcy hearing, the Wall Street Journal reported. Toys R Us filed for bankruptcy in September.
The company later announced plans to close around 182 of its stores. Fifteen locations in New York were on the list of planned closures, including a Babies R Us in Latham and a Toys R Us in Glens Falls, which were to start in February and continue through mid-April.
The Latham store will close by the end of the month and has launched a closing sale, an employee at the store said. Car seats and strollers are marked down by around 20 percent, while toys are marked down as much as 50 percent. An employee at the Glens Falls location declined to comment, but some items in photos on the store’s Instagram account were discounted.
The company also operates a Toys R Us and Babies R Us store across from Colonie Center and a Toys R Us store in Clifton Park that were not included on the list of closures but would be affected by the retailer’s liquidation.
“To our loyal customers: We’ve seen an amazing outpouring of love and support in recent days and we truly appreciate it,” the company tweeted Friday. “Our stores are open for business, ready to bring joy to children wherever we can, and to help new and expecting parents navigate raising a family.”