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NEW YORK (AP) – Toys R Us closes its last American stores Friday, the end of a chain known by generations of children and parents for its sprawling stores, its brightly colored logo and his mascot Geoffrey the giraffe.
But many children who happily sang the jingle "I do not want to grow up, I am a child of Toys R Us" became busy parents who found online shopping more convenient. The company, which also owned Babies R Us, was crippled by $ 5 billion debt after a debt buyback that prevented it from investing and keeping up.
More than 30,000 workers will be looking for work. The troubles of Toys R Us have also shaken some big toy manufacturers like Mattel and Hasbro.
Customers who were still dedicated will look elsewhere. Retailers like Walmart and Target are expanding their toy aisles to fill the hole, while Party City is opening 50 pop-up toy stores this fall.
Toys R Us filed for the reorganization of Chapter 11 last fall and is committed to staying open. Poor sales during the holiday season as customers and vendors have moved away. In January, he announced his intention to close about 180 stores, but in March he announced that he would liquidate the rest of the more than 700 stores.
Will the Toys R Us name and mascot disappear forever? An auction for the company name, baby shower register and various trademarks is scheduled for late July. The 16-foot tall statue of Geoffrey the Giraffe that greeted visitors at Toys R Us headquarters in Wayne, NJ, will be transferred to a state children's hospital.
Many longtime employees were hoping to retire. "I'm never going to have a job like Toys R Us," said Patty Van Fossan, a 54-year-old long-time employee of Boardroom, Ohio, who was part of a group of workers at protests in New York. York. , fight for the break that they believe that they are due. "It was the best job I had, I was surrounded by kids."
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