Multiple sources have announced that the popular chain of toy stores known as Toys R’ Us is looking at filing for bankruptcy next week if they cannot find a last minute buyer or financial assistance.
This filing will cause the closure of 182 stores across the nation.
The toy store chain first filed for bankruptcy in September 2017.
While Toys R’ Us has been the popular choice for many years to parents and children alike, in more recent years, Amazon and Walmart have become fierce competitors for the toy store’s spot as number one.
Target is gunning for the top spot as well.
It’s also been suggested that JC Penney’s and Kohl’s are also looking to expand their toy departments in order to keep up with the competition.
An increase in online sales and a larger selection could also be a contributing factor to the downfall of Toys R’ Us.
Some spectators are unsure that any one of these stores can claim the hearts of American families quite like Toys R’ Us has done for so long.