Sad news for parents and children everywhere:
Retailer Toys 'R' Us, which declared bankruptcy last year, may be shutting ALL of their stores. The closings could start as early as next week!
The news has sent shockwaves across the board, with both Hasbro and Mattel company stocks plunging (both companies are fearing the worst). It is being reported that the demise of Toys 'R' Us would be monetarily devastating to them.
Lego is also feeling the pain. Earlier this week, their stock dropped for the first time in 13 years.
The retailer is preparing for a complete liquidation of all of its stores here in the US. Toys 'R' Us was waiting for a 'hail Mary' in the shape of a buyer, but those hopes have diminished.
As for Babies 'R' Us, the closings will affect them as well.
My Two Cents
When I heard this news, I automatically went into panic mode because I have a baby registry with Babies 'R' Us (my baby shower is next month).
The more I thought about what was going on, I realized that there are thousands of employees out there that will be losing their jobs as soon as next week. Those people have families to feed. My heart breaks for them and I cannot imagine what they are going through right now.
My prayers are with all of you right now.