And the bad news continues for Toys R Us.

Just over a week ago, the UK division of Toys R Us entered administration. Now it looks as if the problems continue for the US arm of the business – months after the retailer filed for bankruptcy.

According to USA Today, Toys R Us USA is preparing to enter liquidation. Attempts to rectify its financial problems have fallen through and unless there is a last-minute reprieve, Toys R Us could be shutting up shop for good.

In the UK, Toys R Us will begin closing stores from next week.

Despite impending closures, Toys R Us continues to trade as usual, putting a brave face on the situation. Earlier tonight, the official US Toys R Us Twitter account tweeted the following:

“To our loyal customers: We’ve seen an amazing outpouring of love and support in recent days and we truly appreciate it. Our stores are open for business, ready to bring joy to children whenever we can, and to help new and expecting parents navigate raising a family.”