• Toys R Us is set to sell or close all of its more than 700 stores in the US, according to a new report in the Wall Street Journal.
  • The decision threatens the jobs of the 33,000 people that Toys R Us employs.
  • The retailer filed for Chapter 11 bankruptcy protection in September 2017.

Toys R Us is about to sell or close all of its US stores, according to a report from the Wall Street Journal, which Business Insider has confirmed.

CEO David Brandon informed the chain’s corporate employees on Wednesday that the chain was preparing to file liquidation papers with the bankruptcy court that evening.

The liquidation puts into question the status of the 33,000 workers Toys R Us currently employs across its 700 stores and Wayne, New Jersey, headquarters. They will get at least 60 days’ severance.

In the call, Brandon blamed some of the downfall on a devastating holiday season,…