Toys ‘R’ Us is expected to close of all of its stores in the U.S., including its locations in Miami Twp. and Beavercreek.
The company’s CEO delivered the news to workers at its Wayne, N.J., headquarters, according to the Wall Street Journal.
The company posted 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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The toy company’s $583 million of first-lien bonds due in 2021 dropped as much as 4 cents on the dollar to 83.9, according to bond-pricing system known as Trace.
Toys ‘R’ Us, Inc. voluntarily filed for relief under Chapter 11, in September 2017. Toys R Us was $5 billion in debt, as of April 29. At the time of bankruptcy, the company said it would close about one-fifth of its store locations. Closing sales are expected to conclude in April.
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At the beginning of 2018, the chain had more than 800 stores before announcing in January that it would shutter 180 stores.
The Babies “R” Us location at 2661 Miamisburg-Centerville Road in Dayton is one of four Toys “R” Us and Babies “R” Us stores in Ohio that are set to close. The other three Ohio locations to be shuttered are in Dublin, Mentor and Western Hills near Cincinnati.
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