Toys R Us to shut down in New York


Popular American toy store Toy R Us is all set to shut down this week. The store was known for its giant toy piano which was once a major tourist destination that was made famous by the 1988 movie ‘Big’ starring Tom Hanks. The 153 year old store is now left without a physical store but the products are still sold at Toys R Us.


The store also has an indoor Ferris Wheel of 60 feet along with an animatronic Trynnosaurus rex of 20 feet. The news spread like wild fire and shoppers from thousands of miles away came to have a last look at the store. Toys R Us offered the shoppers the variety that they never got online or any other local mall. The store occupied 110,000 square feet in the building.
The company has also closed the FAQ Schwarz flagship store on the 5th Avenue due to rising rent costs. One of the visitors at the store said “The most popular stuff is gone”. Rising rent costs is one of the major reason for the store to shut down.
The place costs roughly $2,000 per square feet for the ground floor space near Times Square which is extraordinarily expensive.

Photo Credits: dguides