Toys 'r' Us is reportedly closing its hundreds of U.S. stores.
Iconic retailer Toys ‘r’ Us is reportedly closing its doors, after nearly 70 years of business. Some 800 U.S. locations will shut down and an estimated 33,000 jobs will disappear. Although the company has not said how it plans to handle those layoffs, employees were told of the impending shutdown Wednesday. Toys ‘r’ Us has been saddled with enormous debt for year, and the company filed for bankruptcy a few months ago . The closings also affect smaller toy makers, who depend on the Toys ‘r’ Us chain for distribution sales. The closings are a major indicator of the current retail climate.