Toys R Us Announces Store Closings; Continues Restructure and Rebranding

Toys
2 central Indiana Babies "R" Us stores closing as part of more than 180 closures across the US
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27 January, 2018

The plan had been to take the company public again, but weak sales have prevented that from happening.

The Toys R Us company filed for bankruptcy protection in September and filed the list of planned closings Tuesday in the bankruptcy court.

In October, American Girl's parent company, Mattel, said half of its 22 percent drop in North American revenue was due to the Toys R Us bankruptcy.

Toys "R" Us noted that it may be able to avoid some store closings if it can renegotiate better lease terms, but the majority of the locations are expected to shutter.

The closures would affect about a fifth of all Toys "R" Us locations nationally, and could impact thousands of workers.

Amanda Jones stopped in early Wednesday at a Babies "R" Us store in Santa Clarita that will be among the closures.

Note: This story was updated to clarify that the Monroeville store listed for closing is a Babies R Us, not the Toys R Us on the same road.

Industry analysts said around 180 of the company's 900 locations in the USA will be shuttered.

He acknowledged operational missteps that impacted customers during the most recent holiday shopping season.

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"I grew up coming to this store", he said.

Several other stores will be converted into co-branded Toys "R" Us and Babies "R" Us outlets, Brandon added.

The decision Tuesday gives Toys R Us the option to extend that deadline further, with the consent of landlords.

Jones said she's a big fan of Amazon.

2017 was a hard year for retailers overall as store closings more than tripled from the previous year in the U.S.

Jonathan Cordell, the father of an eight-month-old boy, said he does a lot of price comparisons online, jumping back and forth between Babies R Us and Amazon.

"I usually take advantage of the price matching". The toy industry at large is also facing headwinds, with key manufacturers like Lego and Mattel struggling with declining sales.

Small-format toy stores, like Mastermind Toys in Canada, are eating into Toys "R" Us sales.


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