Toys ‘R’ Us to Shut Down All U.S. Stores

HANNAH MCKAY/REUTERS

Toys ‘R’ Us, the famous toy-store chain, has reportedly decided to shut down all 800 of its U.S. stores. According to The Washington Post, the move will cost 33,000 jobs. It comes after the company filed for bankruptcy last year amid financial troubles due to increased competition from online shopping. The chain was founded in 1948 and is headquartered in New Jersey.

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SOURCE: The Daily Beast