Toys R Us is closing all of its 735 store locations in the US. The closures include its Babies R Us brand and come six months after the retailer filed for bankruptcy. The company’s earlier effort to pull itself out of bankruptcy by closing 180 stores failed. Toys R Us employs 33,000 people nationwide. Vornado Realty Trust, Bain Capital, and KKR & Co purchased Toys R Us in 2005 for $7.5bn, including $1.3bn in equity. Toys R Us has paid out around $470m to the firms in interest and fees since the buyout, according to reports, but it has struggled to pay off its debts, which amounted to around $4.9bn as of its September bankruptcy filing. A group of toy manufacturers led by MGA Entertainment CEO Isaac Larian submitted a bid to buy the 82 Toys R Us stores in Canada and is interested in buying 400 stores in the US.
