Across Georgia, 26 stores and their employees could be impacted as national news outlets are reporting that popular toy retailer Toys R Us is planning to liquidate all of its operations in the United States and will likely go out of business.
Just a month ago, the company said it would close 144 of its stores in the country, which included Toys R Us and Babies R Us. On the list of closings released by the company in February, seven of those stores were in Georgia, including stores in Alpharetta, Albany, Stonecrest, Douglasville, Dunwoody, Fayetteville and Newnan.
Bloomberg reported Friday that the “situation is still fluid” but “a shutdown of the U.S. division (of the company) has become increasingly likely in recent days.”
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If the company does in fact cease its operations in the U.S., it will mean closures of Georgia’s Toys R Us and Babies R Us stores.
Accordingt to its website, the company operates stores in Rome, Woodstock, Kennesaw, Atlanta, Duluth, Dawsonville, Buford, Lithonia, McDonough, Commerce, Athens, Evans, Augusta, Pooler, Savannah, Warner Robins, Columbus and Valdosta.
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Toys R Us filed for Chapter 11 bankruptcy last September and was given a $3.1 billion loan to keep stores open during a turnaround effort, but the company’s financial situation got worse, according to Bloomberg. The retail chain was searching for a buyer or a deal to restructure its debt, but failed to do so, according to the financial news outlet.
The company has not made a statement on the latest reports.
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