Toys "R" Us preparing to liquidate all American stores: report - WEEK.com: Peoria-area News, Weather, Sports

Toys "R" Us preparing to liquidate all American stores: report

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The future may be bleak for one of the United States' largest toy retailers. 

Toys "R" Us is preparing to liquidate its U.S. stores after failing to find a buyer or coming to a deal to restructure debt after filing for bankruptcy in September. The chain's British operations is being managed by a court administrator, and its European branch is seeking a buyer, as well. 

The company has more than 800 stores in the U.S., including Peoria and Bloomington. The company's bankruptcy would be a blow to the toy industry, with Toys "R" Us sales making up about 15 percent of the industry's revenue. 

Bloomberg first reported the news. 

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