Published: Fri, February 23, 2018
Money | By Armando Alvarado

Toys R Us reportedly planning to close 200 more stores, corporate layoffs

Toys R Us reportedly planning to close 200 more stores, corporate layoffs

Toys "R" Us will shutter 200 stores, according to the Wall Street Journal on Thursday.

ToyWorld Mag takes a look at these reports from CNBC and the Wall Street Journal. Soon after, it announced that it would close up to 182 stores, or up to one-fifth of the company's total number of US retail locations.

Things appear to be going from bad to worse for the beleaguered USA arm of Toys R Us as a further 200 stores look set to be closed. Last month, the New Jersey-based retailer revealed that it would close 182 stores.

The initial round of store closing sales begin in early February with the majority of stores ceasing operations by mid-April.

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In that list of stores, the only Virginia locations set to close are a Babies R Us in Potomac Mills and Newport News.

If the almost 400 Toys R Us closures are realized, it would slash the company's store count in half. It filed for bankruptcy in September 2017, and executives have said they plan to emerge as a more modern retailer before the next holiday shopping season.

While its sales numbers have been shrinking, Toys R Us still sells about 20 percent of the toys bought in the USA, according to Stephanie Wissink, an analyst at Jefferies LLC.

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