Getty/Jack Taylor
Toys R Us will close or sell all of its remaining US stores.
- Toys R Us filed liquidation papers on Thursday.
- The store blamed rivals Amazon, Walmart, and Target for undercutting it on price.
- Some retailers could potentially benefit from Toys R Us' going out of business.
RIP Toys R Us.
On Wednesday, America's best-known toy store informed employees that it would be closing or selling off all of its more than 700 stores in the US. The following morning, it filed liquidation papers.
In a conference call with employees on Wednesday, CEO David Brandon partly blamed its downfall on a devastating holiday season, where sales were less than half of the $600 million usually made in a year.
The company has lashed out at its competitors, claiming that Walmart, Target, and Amazon created the "perfect storm" to kill off the chain after these stores cut prices on toys during the holiday season. Toys R Us said it could not offer such low margins given that it relies solely on its toy sales.
These rival businesses, along with several others, are now set to capitalize on its demise. Find out who below:
