Toys ‘R’ Us is shutting down or selling all of its U.S. stores, shortly after announcing the closure of all U.K. locations. Chief Executive David Brandon broke the news to employees yesterday, saying “I have always believed that this brand and this business should exist in the U.S.,” and that “The constituencies who have been beating us up for months will all live to regret what’s happening here.” The iconic company’s downfall could spell trouble for Lego and Hasbro—whose heels are already being nipped at by up-and-coming indie brands. (WSJ)
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