On Wednesday, March 14, Toys ‘R’ Us announced that all stores across the United States will be either closed or sold.

Toys “R” Us is an American toy retailer that was founded in 1948 by Charles Lazarus, born 1928.

Before the announcement was made, the company filed for bankruptcy in September of last year and later confirmed, in January, that the company was, “closing 182 unprofitable stores in the United States and already started liquidating those locations.” There isn’t a specific time all stores will be shut down but liquidation, the process of ending a business and selling the assets to claimants, already began taking place.

Many parents across the United States question as to why Toys ‘R’Us is closing. One of the main reasons the company is shutting down is Amazon. Amazon is an American online company founded in 1994. It’s used for online shopping and has become very popular the past few years, which is why Toys “R” Us is shutting down. With Amazon becoming more popular, parents have turned more to online shopping than going into a store.

Amazon and online shopping take a huge role in the company closing, but the company itself caused an issue. When Toys ‘R’ Us was first founded, it saddled with billions of dollars in debt which prevented the company from making the necessary investment in stores across the United States.

When asked about the company’s official closing, the bankruptcy attorneys told CNNMoney that, “Most locations will likely shut their doors within the next two months, and Toys ‘R’Us will pay employees in the next 60 days.”

Since Toys “R” Us is closing, a closing sale will take place. A closing sale is when a company, that is near being closed permanently has one final sale. Toys “R” Us’ closing sale will begin March 22 and, “It’s an excellent opportunity for anyone to pick up whatever toys or games they might have been holding off on, but the sale also marks the end of an era for many people who grew up with Toys “R” Us.”

Toys “R” Us may be closing soon, but it will forever leave a mark in our childhood hearts.