Toys R Us is officially going out of business. After months-long bankruptcy process, the company was unable to get its finances together and has decided to close down. The store closure will affect over 30,000 employees. Toys R Us has struggled with debt since a 2005 buyout, succumbing to $500 million worth. As competition from Amazon, Target and Walmart increased, the company was unable to keep up. Last year, the toy chain accounted for one-fifth of toy sales in the U.S., however.