Many people have fond childhood memories of visiting Toys “R” Us to pick out some of their favorite toys.
However, there may be some bad news when it comes to the popularized toy store.
According to CNN Money, there have been several reports that the retailer may close its stores as early as next week.
Toy companies such as Hasbro and Mattel have experienced drops in their shares, and earlier this week Lego has even reported it’s first sales drop in thirteen years.
A spokesperson for Toys “R” Us reportedly declined to comment on the company’s liquidation talk.
Toys “R” Us has been known as one of the last megastores that have been fully dedicated to toys. Without its presence, many toy companies will experience a struggle.
The rise of video games and other high-tech toys has given the traditional action figures, dolls and board games a run for their money.
Aside from that toy purchases being made through Amazon for lowered prices have made a contribution to decline.
Stores such as Walmart and Target have also seen a struggle when it comes to Hasbro and Mattel products.
The future of both toy companies are unknown at the moment, but rumors have been swirling that Hasbro may buy Mattel, causing the two companies to merge.
No official announcements have been made, so only time will tell.
Source:Â http://money.cnn.com/2018/03/09/investing/toys-r-us-closing-hasbro-mattel/index.html
