Toys R Us Closes Flagship Store

NEW YORK (AP) -
A 60-foot Ferris wheel, one of the attractions inside the Times Square Toys "R" Us store, is shown in this file photo. (AP Photo/Mark Lennihan)
A 60-foot Ferris wheel, one of the attractions inside the Times Square Toys “R” Us store, is shown in this file photo. (AP Photo/Mark Lennihan)

After welcoming tourists for 14 years, the over-the-top Toys R Us in Manhattan’s Times Square is closing its doors.

Wednesday marked the last day of business for the company’s flagship location.

The store’s closing follows the July shuttering of another iconic New York City toy store, F.A.O. Schwarz.

A spokeswoman says company officials decided not to renew their lease to save money on rent.

She says the company is looking for a new flagship location in Manhattan.

An agent for the building’s owner says retailers Gap and Old Navy have signed leases in the space.