According to various media outlets today, it is very likely that Toys R Us will close all its stores in the US next week and prepare for a liquidation of its bankrupt U.S. operations. There has been no buyer found in recent months to help the struggling chain with their massive debt. It's not clear yet how this will effect non-US stores.

Babies R Us has not been mentioned by name in most articles, but they are the same company so it is very likely they will all close as well.

My best advice to anyone reading this is if you have a gift card or merchandise credit, use it this weekend! Also if you have any returns, do it this weekend as well. Once the official statement comes in, those things may not be good anymore. You may end up having to file a claim and that could take years to settle. People are doing that right now with Giggle gift cards and credits. 

Also if you have a baby registry, you should probably consider making a new one at a different store.