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Toys 'R' Us officially closes all U.S.-based stores

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WATCHUNG -

It's a sad day for generations around the U.S. as the iconic Wayne-based toy store Toys 'R' Us will close all 700 of its U.S.-based stores.

Many of the 700 locations had already shutdown Thursday after selling out of their stock.

The company filed chapter 11 last year, smothered by $5 billion in debt.

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The company blamed changing customer tastes and the popularity of online shopping for its demise.

Toys 'R' Us tried to boost its online presence, but that didn't help.

More than 30,000 people are now out of jobs, not to mention big toy makers like Mattel and Hasbro, who often crafted exclusive versions for Toys 'R' Us.

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