(WKBN) – Toys ‘R’ Us is preparing to liquidate its U.S. stores, according to national news reports.
That could mean the shutdown of its U.S. division, Bloomberg reports.
The retailer declared bankruptcy in September and later announced it planned to close 182 stores. Those closures included four stores in Ohio and seven in Pennsylvania.
Toys ‘R’ Us has suffered from competition from Walmart and online giant Amazon that left it reeling under $5 billion in debt.
According to Bloomberg, Toys ‘R’ Us has failed to find a buyer or reach a debt restructuring deal with lenders.
Talks with creditors are continuing and no decision has been made yet, Reuters reports. Reuters said the company is still considering other options as well.
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