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By the time you read this, a beloved retail toy store may have closed its doors…
Last September, Toys ‘R’ Us filed for bankruptcy.
They’ve already closed 180 of their 800 stores, but shutting them all down was never part of their original plan (it never is). Expectations were for a re-structuring of the company that would prevent that from happening.
Fast-forward to today and the news is that they could be announcing the closing of their remaining stores permanently – as early as this week.
Now for many, this is pretty unsettling news. Toys ‘R’ Us has been a household name – a childhood favorite. Making that trip to the pick out the perfect toy for being good or getting outstanding grades was something a lot of us looked forward to when we were kids.
And for parents, the memories of battling holiday mobs to get the last Tickle Me Elmo or a Cabbage Patch Doll is still brings laughter around the family table.
So hearing that another goliath like Toys ‘R’ Us – one you’d always think would be around – is enough for some traders and investors to start dumping all their retail shares.
But that’s actually one of the worst things to do – especially to your portfolio.