Toy retailer Toys “R” Us is closing or selling all of nearly 800 stores in the U.S. after 70 years in business. The company’s CEO yesterday notified its roughly 33-thousand employees that efforts to reduce debt and reinvest in its stores after declaring bankruptcy last September failed to turn the company around.
The retailer hasn’t made a profit since 2012 and is reportedly more than five-billion dollars in debt. Toys “R” Us had at least one location in Sonoma County: on Santa Rosa Avenue in Santa Rosa.