It’s the end of an era for Toys R US kids.
The toy company announced on Wednesday that they’re going out of business and closing 800 stores in the U.S., including its Babies R US brand.
The retailer that faced mounting pressure from Walmart and Amazon in the last few years notified employees about its plans to liquidate, according to NPR.
The move comes after a months-long process to find financing to save the business with the hope that some stores would remain open.
On Thursday, the company began the process by filing a motion in U.S. Bankruptcy Court, according to USA Today.
The report states that Toys R US’s lenders “have determined that the best way to maximize their recoveries is to liquidate the existing inventory in all…735 remaining U.S. stores and begin an orderly wind-down of the U.S. operations.”
The company employs roughly 33,000 people and only has enough cash on hand to pay its employees “no fewer than 60 days,” per USA Today.