Toys 'R' Us to shut 180 stores

|By:, SA News Editor

Toys "R" Us is shutting down 180 stores, or about one-fifth of its locations in the U.S., as part of its bankruptcy reorganization plans.

The news may put pressure on Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT), whose shares both spiked yesterday afternoon amid trader chatter of buyout activity.

Toys "R" Us comprised 11% and 9% of 2016 global sales for Mattel and Hasbro, according to Jefferies.

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