BREAKING: Toys ‘R’ Us Could Be Closing All Stores Next Week

WGN is reporting the unfortunate news that all Toys 'R' Us locations, including those in the Quad Cities, could be closing as soon as next week.

Toys 'R' Us had already filed for bankruptcy recently, so this isn't necessarily a huge surprise, but no one expected all stores to be shutting their doors so soon.

WGN adds that the stores closing is bad news for toy companies Hasbro and Mattell, which have struggled in recent years due to competition from online and big box retailers.

"The dominance of Amazon has put pressure on many consumer products companies as Amazon has made a relentless push to lower prices. Recent struggles at Walmart and Target are also hurting Hasbro and Mattel."

UPDATE:

Toys 'R' Us has made a statement on Twitter:

"To our loyal customers: We’ve seen an amazing outpouring of love and support in recent days and we truly appreciate it. Our stores are open for business, ready to bring joy to children wherever we can, and to help new and expecting parents navigate raising a family."

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