Toys R Us closes shop

Toys R Us is closing its last U.S. stores by Friday, leaving more than 30,000 employees out of work. The retail company, which also owned Babies R Us, was burdened by $5 billion in debt after a leveraged buyout, leaving it unable to make investments as it struggled against online competition. Toys R Us filed for bankruptcy protection last fall and said it would stay open. In January, after poor holiday sales, the company announced it was closing 180 stores, then two months later said it would have to shut all of its 700-plus locations. Its downfall has rattled the stocks of Mattel, Hasbro, and other toy makers.

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