BUFFALO, N.Y. -- "It's terrible, it's been a store for generations, I mean my kids, my grandkids now, I mean we all grew up with Toys R Us," said Greg Dudziak. 

"I think it's horrible. This the only place to shop for last minute items for a birthday party we have coming up and I don't have time to order it online," said Amy Vassallo.

That's how customers are reacting to the news that Toys R Us is planning to close all of its U.S. stores. Three of those stores are in our area; Hamburg, Clarence, and Amherst.

"Toys R Us is similar to a lot of other retail establishments that have been affected by Internet retailing," said George Palumbo.

Professor of Economics and Finance at Canisius College, George Palumbo, isn't surprised by the news.  He says the closing of Toys R Us follows the same fate as other retailers unable to keep up with online retailer Amazon or larger stores like Walmart and Target.

Last year, Macy's and Sears closed several stores in the area. Palumbo says unlike 30 years ago when malls expanded and absorbed the workers from smaller retailers, it's unlikely these workers will be able to find retail jobs locally.    

"The difference with this is, once these retail stores close, the employment will no longer be in the metropolitan area where they exist. Upstate employment levels in retailing will drop because internet shopping, internet activity is a cheaper new technology," said Palumbo.

"As they close the value of those properties will go down and property tax collections in those towns and villages and cities will go down as well," added Palumbo.

Despite the loss, he says there may be a bright side.

"It's good for wherever the next firm locates, wherever Amazon locates its new location, those people be making money, the people in the fulfillment centers will be making money," said Palumbo.

Toys R Us has approximately 31,000 employees nationwide. A closing date for all of its stores has not been announced.