Toys ‘R’ Us Closes Doors

The bankrupt toy company announced that it would be shutting down all US locations in March

This week, thousands of people around the world have felt nostalgic pangs as famous toy store chain Toys R Us closes its doors for good.

The company is continuing to operate stores in Europe and Australia, as well as 255 licensed stores and joint venture partnerships in Asia, which were not part of the bankruptcy filing.

Geoffrey The Giraffe has packed his bags and is saying goodbye for good.

However, shoppers who were hoping to secure a bargain on the final day of trading in Raleigh were left disappointed, as the mysterious buyer got there ahead of them.

The 16-foot tall statue of Geoffrey the Giraffe that greeted visitors at Toys R Us headquarters in Wayne, New Jersey will be moved to a children's hospital in the state. "My heart is breaking", Johnpiere wrote with a photo of the store's sale signs.

Toys R Us filed for Chapter 11 reorganization last fall and pledged to stay open, but the company saw poor sales during the critical holiday season as customers and vendors shied away.

In a dire retail landscape, more than 8,000 US shops closed in 2017, roughly double the average annual store closures in the previous decade, according to data from the International Council of Shopping Centers.

From June 29 forward, there will be no more Toys R Us kids, sadly. "I was surrounded by children".

Lazarus founded the company in 1948 and built it up to be an icon that enjoyed 70 years of success.

But several of Toys "R" Us' old competitors are already eyeing to fill the void.

Are you saddened by the loss of the beloved toy store?

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