Western New Jersey

Toys R Us likely to close all stores in country

It may be the end of an era for Toys R Us.

According to several media reports the retailer is preparing to liquidate its business, which will most likely result in all stores closing.

The company, which has been in operation for over 50 years, announced in September it was filing for bankruptcy citing nearly $5 billion in debt.

Toys R Us has already announced the closure of all of its stores in the UK and is in the process of closing some U.S. locations, including the store in Phillipsburg, New Jersey.

Toys R Us has struggled to keep up with the prices of big box stores and the convenience of online retailers like Amazon.

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