Toys R Us is preparing to liquidize its operations after failing to find a buyer and reach a debt restructuring deal with lenders.
The retailer filed for chapter 11 protection in hopes to reorganize their debt and create a leaner business model. a $3.1 billion loan was given to help keep stores open, but results worsened during the holiday season.
In January the company announced that it was closing 180 of its 800 stores.
The situation has also deteriorated for many of the retailer's overseas divisions, which weren't part of the bankruptcy.
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