Toys R Us is set to close all of its stories in the U.S., ABC News reports.

The U.S. stores employ some 30,000 people. The closing of the company's 740 state locations over the coming months will finalize the downfall of the chain that succumbed to heavy debt and relentless trends that undercut its business, from online shopping to mobile games.

CEO David Brandon told employees Wednesday the company's plan is to liquidate all of its U.S. stores, according to an audio recording of the meeting obtained by The Associated Press. Toys R Us will try to bundle its Canadian business, with about 200 stores, and find a buyer, Brandon said.

The company's U.S. online store would still be running for the next couple of weeks in case there's a buyer for it.