More bad news wings its way from the States as Toys ‘r’ Us prepare to close 180 further stores out of the 1600 it currently operates.
ToyWorld Mag takes a closer look at this disappointing situation.
Toys R Us has announced it will shut about one-fifth of its stores in the United States in the coming months.
The news comes as the toy store chain tries to emerge from one of the largest ever bankruptcies by a specialty retailer.
The closure of about 180 US stores will begin in early February and continue until mid-April, chief executive David Brandon said in a letter on its website.
The company filed for bankruptcy protection just ahead of the crucial holiday season in the US and Canada to restructure $5b of long-term debt, casting doubt over the future of its 64,000 employees and nearly 1,600 stores.
All 83 Toys R Us stores in Canada will remain open, said president of the Canadian unit, Melanie Teed-Murch, in a letter to customers.