Toys "R" Us to liquidate and close all U.S. stores
The era of big box toy stores could come to an end as Toys "R" Us officials announced plans to shutter all of its stores in the United States, including the Dartmouth location.
The New Jersey-based toy retailer filed bankruptcy court documents on March 15, outlining its yet-to-be-approved plans for liquidation and closure of all of its 735 United States stores. Stores could begin liquidation sales immediately, with an expected July 31 deadline to shutter all of its stores.
Liquidation sales at the Dartmouth location have not began yet, according to employees. They are currently waiting to hear about when they will start.
Employees will receive a termination notice and Toys "R" Us, Inc. has agreed to pay employees for no later than a 60 day period. Gift cards, rewards dollars, and endless earnings will be honored for the next 30 days, and registries can still be accessed.
The announcement could spell an end to the company's struggles to survive against online retailers and brick-and-mortar superstores. In September 2017, the company filed for bankruptcy reorganization and continued doing business through the holiday season as planned. However, the sales were not near the expected or needed projections, according to court documents.
Chairman and chief executive officer Dave Brandon gave gratitude toward those who have continued their support for the company in a statement, including employees, vendors, and the board.
Toys "R" Us was founded 1957 by Charles Lazarus.
The Dartmouth store is located at 492 State Road in a shopping plaza also home to an A.C. Moore crafts store.