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Kids these days will NEVER get to realize how much fun it was to run the aisles of Toyr R Us because they’re closing its doors.

Toys R Us will be closing or selling all 800 of their U.S. stores which will affect over 30,000 people. The company failed to pay down their $8 billion dollar debt. In the U.K., all 100 of their stores will close.

When will the closing of the stores take place? Sources are saying that it will not happen all at once but over time.

Toys R Us may not be done altogether though. There are rumors of MGA Entertainment seeking to purchase Toys R Us stores in Canada and about 400 stores here in the U.S. and they still would want to use the Toys R Us name.

MGA Entertainment’s Chief Executive, Isaac Larian, said “There is no toy business without Toys R Us. It’s a big deal and I’m going to try to salvage as much of it as possible.”