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Toys ‘R’ Us Will Proceed With Shutdown of U.S. Operations

  • Chain is said to be filing motion in bankruptcy court
  • Bloomberg reported last week that liquidation was imminent
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Toys `R' Us to Liquidate

Toys “R” Us Inc. Chief Executive Officer Dave Brandon confirmed to employees on Wednesday that the chain will be closing its U.S. operations, according to a person with knowledge of the matter, a move that leaves the nation without a major toy-store chain.

Brandon addressed workers at the company’s headquarters in Wayne, New Jersey, laying out plans for an orderly shutdown of the business, the person said. The company will file a motion for the liquidation in bankruptcy court, according to the person, who asked not to be identified because the announcement isn’t yet public.