Big-box chain Toys R Us, which filed for bankruptcy late last year, is planning on closing or selling all 800 of its U.S. stores in the coming months. The company says it was burning through $50 million to $100 million in cash a month as it struggled to pay back billions in debt.
"The stark reality is that [Toys R Us is] projected to run out of cash in the U.S. in May 2018," the company said in a court filing on Thursday.
Bankruptcy lawyers say the chain, which also includes Babies R Us stores, must move quickly.