(98.7 AMP Radio) — Several sources are reporting that bankrupt retailer Toys “R” Us may shut all its U.S. stores as soon as this week.
A spokesperson for the company has declined to comment on the liquidation chatter.
Toys “R” Us accounted for nearly 10 percent of Hasbro and Mattel’s overall sales and this potential closing could prove to be a huge blow to those companies.
Officials say that the softness in the toy industry is partly due to the rise of video games and other high-tech toys.
The toy retailer filed for bankruptcy last September as it struggled with nearly $5 billion in debt.