By Belen Dumont 3/18/2018
Toys R Us, one of the nation’s top toy companies, is closing down all U.S stores over the following months. The retailer’s destruction came from severe debt and “relentless trends that undercut its business, from online shopping to mobile games”.
The Associated Press released a tape recording CEO David Brandon telling employees last Wednesday, of the company’s plan to eliminate all of its stores.
The recording also reveals the company will likely liquify all businesses in Australia, France, Poland, Portugal and Spain. In the United Kingdom, stores are also being currently shut down.
Businesses around the world, partnered with the 70-year-old retailer, are starting to fear what will happen if Toys R Us shutdowns globally.
According to USA Today, Brandon told corporate staff on Wednesday, “I am devastated that we have reached this point”.