The toy retailer has announced major store closures in its efforts to restructure.
NORTH AMERICA–Toys ‘R’ Us will close approximately 180 locations and convert a number of stores into co-branded Toys ‘R’ Us and Babies ‘R’ Us locations.
According to a company statement, the closures are part of a company-wide initiative to restructure and re-focus following its bankruptcy filing in late November. Dave Brandon, the company’s chief operating officer admitted to operational “missteps” and rolled out plans for re-inventing the company’s brands and prioritizing company goals.
“The actions we are taking are necessary to emerge from 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,” says Brandon.
Toys ‘R’ Us will continue to operate physical stores across major markets in the U.S. and around the world, as well as online, and will continue to honor its customer loyalty program.
Impacted stores are expected to begin closing as early as February, with the majority of locations shuttering in mid-April. During the closing period, the company will offer a variety of discounts and deals across merchandise categories.