Toys R Us to close or sell all stores in U.S.

LEXINGTON, Ky. (WTVQ) – Toys R Us announced Thursday it is closing or selling all of its remaining stores in the United States, including the store in the South Park Shopping Center on Nicholasville Road in Lexington.

The company filed for bankruptcy late last year, citing the inability to compete with online shopping as a main reason.

Liquidators will work to empty stores by April, according to the company.

Toys R Us will honor gift cards for the next 30-days, according to the company.

Once liquidation sales begin, stores will not accept returns.

The move could put more than 30,000 people out of work, which would make it the largest retail sector layoff since 2015, according to analysts.