Toys ‘R’ Us to close another 200 stores, report says

0
1
Toys ‘R’ Us to close another 200 stores, report says

Struggling New Jersey-based toy retailer Toys “R” us plans to close an additional 200 stores, according to a report by the Wall Street Journal. 

About a month after disclosing plans to shutter 182 stores, including 12 in New Jersey, more locations are on the chopping block following a lower than expected holiday sales, the Wall Street Journal said. The closures include Toys “R” Us and Babies “R” Us locations.

Before filing for bankruptcy last year, Toys “R” Us had 11,150 full-time employees and 21,300 part-time workers, the report said. Company officials declined to comment to NJ Advance Media about the report on Thursday night.

Toys ‘R’ Us offers huge discounts at closing N.J. stores.

The company has about 32 stores in New Jersey and more than 1,600 stores worldwide.

Like most brick-and-mortar stores, the Toys “R” Us had been hurt by online competition from Amazon and Walmart

In February 2017, Toys “R” Us laid off 250 workers at its corporate headquarters in Wayne.

The company also had a reported debt of $5 billion.

Staff writer Noah Cohen contributed to this report.

Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.

 

Read More