Toys R Us at 5521 Leesburg Pike. [Alisha D./Yelp] |
Toys “R” Us Inc. announced March 15 that it has “filed a motion seeking bankruptcy court approval to begin the process of conducting an orderly wind-down of its U.S. business and liquidation of inventory in all 735 of the company’s U.S. stores.” The company filed for Chapter 11 bankruptcy protection in September 2017.
Toys “R” Us CEO David Brandon blamed poor holiday sales due to lower prices offered by Walmart, Amazon, and Target.
While Business Insider reports “blowout liquidation sales” could begin in a matter of weeks, a sales associate at the Bailey’s Crossroads location said employees haven’t been notified about big sales yet. Toys “R” Us gift cards will expire in 30 days, as will the store’s loyalty-based “rewards dollars” and “endless earnings.”