Toys R Us announced that they will sell or close all 800 of its U.S. stores, affecting as many as 33,000 jobs after being in business for almost 60 years.
As you know, Toys R Us filed for bankruptcy. The company has struggled to pay down nearly $8 billion in debt - much of it dating back to a 2005 leveraged buyout - and has had trouble finding a buyer. The company told employees closures would likely occur over time, and not all at once.
Toys R Us, once the country's preeminent toy retailer, has been unable to keep up with big-box and online competitors.
(Photo: Getty Images)
Jack and Carolyn talked about it on the air. Listen here: