New Yorkers say they will miss Toys'R'Us.
(SOUNDBITE) (English) TOYS 'R' US CUSTOMER, TONY, SAYING:
"It's just too bad, end of an era, I guess."
(SOUNDBITE) (English) TOYS 'R' US CUSTOMER, LYNN GITOMER, SAYING:
"I was just talking to the guy inside, and I just said, 'how sad.' I think it was 700 stores that were going to close? That's a lot of people that don't have jobs, so, too bad. It's a fun place to shop."
(SOUNDBITE) (English) TOYS 'R' US CUSTOMER, BILL KEESHAN, SAYING:
"Going into the big stores is always a lot of fun. My kids loved doing it today, so, it'll be sad to see them go."
Last September, the iconic toy retailer filed for bankruptcy.
But it hasn't been able to find a buyer or restructure billions in debt.
It's now closing or selling its 735 stores in the United States and laying off about 30,000 workers.
It's also off-loading its locations abroad.
In a court filing, Toys'R'Us blamed price cuts at Target, Walmart, and Amazon and customers' preferences shifting from toys to electronic gadgets.
TTPM's Jim Silver.
(SOUNDBITE) (English) CHIEF EXECUTIVE OFFICER & EDITOR-IN-CHIEF OF TTPM, JIM SILVER, SAYING:
"I think where Toys 'R' Us dropped the ball is in a few areas. One, is their online business. While everybody's growing their online business, Toys 'R' Us was down 12 percent. They performed extremely poorly online. The second area that really hurt them this holiday season was they announced the bankruptcy, and they didn't get out in front of the story that, 'we're open, we're going to be in business, we're going to be in business long-term. So, customers thought they actually were closing their doors, and they were reluctant to shop there because they felt they couldn't return gifts, or you're not going to buy gift cards if you can't use them. So, that concern hurt them this holiday season."
The closure is a blow to hundreds of toy makers that used to sell their products at Toys'R'Us, including Mattel, Hasbro, and Lego.