Fate of Guam Toys R Us uncertain – The Guam Daily Post

The fate of the Toys R Us store on Guam is uncertain after news spread across the U.S. mainland all of the retailer’s 800 U.S. stores would close.

The Guam Toys R Us, in the Micronesia Mall, referred The Guam Daily Post’s questions to the corporate office of the toy retailer stateside, but several phone numbers provided go direct to voicemail, and emailed questions generated an auto reply that the retailer would answer later.

Toys R Us’ plan to sell or close all 800 of its U.S. stores would affect as many as 33,000 jobs as the company winds down its operations after six decades, The Washington Post reported, citing a source familiar with the matter.

The retailer filed for Chapter 11 bankruptcy reorganization last year.

The company has struggled to pay down nearly $8 billion in debt — much of it dating to a 2005 leveraged buyout — and has had trouble finding a buyer, The Washington Post reported.

The recent holiday season dealt another blow to the embattled company, which struggled to find its footing even as the retail industry racked up its largest gains in years, The Washington Post reported. In January, the retailer announced it would close one-fifth of its remaining Toys R Us and Babies R Us locations.

Source: Google News :

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