Toys R Us Closes Doors For Good This Friday
(CBSNewYork) -- The end is near: Toys R Us is closing its doors for the final time Friday.
The beleaguered toy giant filed for bankruptcy in September 2017 and announced liquidation sales shortly after. Discounts up to 90% are available at some stores, although many locations have already been picked clean.
Earlier this month, fired Toys R Us employees protested on Wall Street, demanding severance after news broke that the chain paid its executives millions of dollars in bonuses the week before announcing its closure. 33,000 workers lost their jobs in the shutdown.
However, a former CEO is reportedly involved in plans to reboot the Toys R Us brand. Bloomberg reports a group led by Jerry Storch is expected to bid for the chain's branding assets at bankruptcy auction next month. His plans include merging Toys R Us with its sister Babies R Us brand under one roof.
