The fateful rumors are true: the beloved, nostalgia-inducing store, Toys R Us, went bankrupt. The chain will  be forced to liquidate its assets, which will shut down all 735 stores across the United States and leave 33,000 workers unemployed. Founded in 1957, Toys R Us, has been a longtime favorite toy supplier for many Americans. So to some people, its abrupt closure is a humongous shock. However, in an economic climate led by Amazon, Target and Walmart, some believe that the company’s end was inevitable.

Two of the main reasons for the store’s bankruptcy were its massive debt as well as the fierce competition from other retailers that sell toys. In September 2017, Toys R Us officially filed for bankruptcy; however, back then, its leaders still had hope for the company’s survival and wished to free itself from debt, which at the time was revealed to be around $5 billion. A poor holiday season, in which the company earned only a quarter of its profits from the previous years, further sealed the massive company’s fate.When companies like Amazon put major discounts on their toys during the holiday season, Toys R Us was simply unable to compete, its toys only exclusivity preventing it from doing so.  The prevalence of stores like Amazon, Target and Walmart in today’s society, which sell not just toys, like Toys R Us, but all sorts of items, also played a role in the store’s closing.

Toys R Us’s closing has saddened many who will watch the favorite store of their youth disappear from their towns and lives. “I feel like there is a door closing on my childhood memories, and closing it now, will prevent future kids from having these same positive memories that I have had buying toys from Toys R Us,” said Liat Blumenfeld ‘20. In these desperate times for the company, GoFundMes and petitions have already been created as many try to save their childhood favorite store.

By: Lucy Brenner