Toys R Us closing marks end of an era - WMC Action News 5 - Memphis, Tennessee

Toys R Us closing marks end of an era

Toys R Us (Source: WMC Action News 5) Toys R Us (Source: WMC Action News 5)
MEMPHIS, TN (WMC) -

All 800 Toys R Us locations, including the three Mid-South locations, could begin closing as early as this week.

Toys R Us is $5 billion in debt and unable to find a buyer.

"It's kind of upsetting," Toys R Us shopper Jennifer Gay said. "This is where I go for birthdays and Christmas and all kinds of holidays."

"Really sad. They've been around a long time, and this is usually where I come to buy toys," Toys R Us shopper Brenda Williams said.

Toys R Us employs 33,000 people across the country. It has three locations in the Mid-South. All of those employees will soon be looking for a new job.

The company said there's still a chance some of the stores could stay open, but that would involve someone stepping up to buy the stores away from Toys R Us.

Danny Buring is managing partner with The Shopping Center Group in Memphis.

Buring said if a big box store leaves, it's not always a death sentence for a shopping center. He said that big store can be broken up and sold as smaller spaces.

"The opportunities these bankruptcies create are unique and allow new blood to come into a market," Buring said. "It's just like anything else it's about location."

Buring said the Toys R Us location at Wolfchase would likely be the easiest one to re-purpose.

Copyright 2018 WMC Action News 5. All rights reserved.

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