The famous toy retailer Toys R Us is finally closing up shop at more than 800 stores across America on Friday. In the lead-up to its final day, the retailer slashed prices to move its inventory.
Toys R Us has long been a staple in American retail history. The store first opened in 1948 under its original name, Children’s Bargain Town. Almost a decade later, owner Charles Lazarus rebranded his stores with what would become a household name, Toys R Us.
It soon became the one-stop shop for buying toys. Toys R Us became one of the most popular stores in the country in the 1980s and 1990s.
In 2005, Toys R Us was scooped up by a trio of investors, which loaded the company with debt. When competition from e-commerce sites and retail rivals heated up, the debt limited Toys R Us’ options. After years of struggles, Toys R Us filed for bankruptcy protection in late 2017. In March of 2018, Toys R Us began its liquidation sales across their stores.
Sale prices for the final days of Toys R Us were as high as 95 percent for some items. As part of its bankruptcy process, Toys R Us is selling off its real estate to other big-name stores such as Big Lots, Raymour & Flanigan and Target.