Toys "R" Us reportedly preparing for liquidation

After scrambling to keep its bankruptcy reorganization plan alive, Toys R Us is reportedly preparing for liquidation.

The toy retailing giant appears to be running out of time, and money -- pushing closer to having to close the doors of the entire chain.

RELATED: Toys "R" Us to close dozens of stores nationwide; several Bay Area locations in jeopardy

Its leaders have failed to find a buyer or reach a new debt financing deal with its lenders.

The company in recent weeks has told workers it doesn't have enough money to pay severance.

Sources tell Bloomberg News they expect the company to file for Chapter 7 bankruptcy liquidation next week.

Toys R Us declined to comment.

Click here for a list of Toys"R"Us stores closing in the Bay Area.