Popular Retail Chain May Close Every Hudson Valley Location

A very popular retail chain may close every Hudson Valley location by next week.

Toys R Us is reportedly considering closing every location in the United States in the very near future.

According to multiple reports, Toys R Us is on the verge of liquidating its U.S. stores.

The situation is fluid, but a shutdown of the U.S. division is becoming more and more likely in recent days, sources told Bloomberg. Dreams that a buyer will emerge to keep the business running or a lender agrees to restructure the company's dept are fading.

According to the Wall Street Journal, the company is abandoning efforts to restructure through the bankruptcy.

CNBC reports lenders are pushing hard for a liquidation. Shares of Toys R Us debtholders, Hasbro and Mattel, saw their stocks drop last night. Mattel by nearly 5%, Hasbro over 3% after news leaked.

In Feb., CNBC reported weak holiday sales put the toy-giant at risk of breaching a $3.1 billion loan.

In Sept., Toys R Us announced they were filing for bankruptcy in an effort to restructure their business. Reports said the company was $5 billion in debt.

In Jan. the company announced plans to close 180 stores, including a location in Kingston. 

Toys R Us has other locations in the Hudson Valley in Poughkeepsie, Middletown and the Woodbury Common Premium Outlets.

Toys R Us makes up 15% of the toy revenue in the United States, according to Fortune.

A formal announcement could come by Monday, but the company is holding out hope for a last-minute rescue.