Millions of former Toys R Us customers have become nostalgic and are expressing remorse after learning of the giant kids' retailer's plans to shut its doors in the United States.

Due to defaults on loans and demands from lenders that the corporation liquidate its assets to pay down about $5 billion in debt, Toys R Us will reportedly move forward with plans to either sell or close all of its stores nationally. The retailer has collected on the sale of about 180 locations since filing a motion for bankruptcy protection in September, but initial plans to restructure in hopes of saving the brand have not looked hopeful.

All the while, stakeholders will keep to their effort to preserve businesses in Canada and may be looking to spare some 200 of the nearly 800 stores that remain in the U.S., but there is no promise that the company will find a buyer to keep it from completely going under.

The current state of things already has experts dreading there may be some negative impact on real estate - considering the overwhelming number of vacant properties that will re-enter the market. It also sends toy makers scrambling for vendors to fill the void that will be left, as more than 33,000 workers search for new employment.

Source: cnbc.com