Toys R Us is closing 180 stores across the US
Toys R Us is planning to close 182 stores across the US as the brick-and-mortar chain struggles to compete with the likes of Amazon.
The closures, which still need court approval, will begin next month and finish up by mid-April. They represent roughly one-fifth of the company’s stores in the US.
In addition to the closures, the toy chain plans to convert a number of locations into co-branded Toys R Us and Babies R Us stores.
The struggling toy company filed for bankruptcy in September due to debt and fierce competition, but is making moves to restructure itself in hopes of becoming a viable retailer.
"The reinvention of our brands requires that we make tough decisions about our priorities and focus," chairman and chief executive David Brandon wrote in a memo to customers. "The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience you should expect from a market leader.”
Last month, the toy giant announced its plans to shutter around a quarter of its stores in the UK.