Toys R Us will close another 200 stores


Toys "R" Us Inc. plans to close another 200 stores and lay off a significant portion of its corporate staff following a disappointing holiday sales season, according to people familiar with the matter.

The toy retailer already announced plans to close roughly 182 stores across the United States.

Read the complete Wall Street Journal report here (subscriber content).

The total number of store closings, including those announced in January, would be around 380. If Toys R Us closed an additional 200 stores in the United States, it would cut its domestic retail operation in half - from roughly 800 in September, to just 400.

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The report, which first appeared online Wednesday evening, triggered a new round of social media posts lamenting the death of Toys R Us, a blow for the retailer, which has been struggling to convince consumers and vendors that it has a future in the toy business. Locations in Albany, Clay, Clifton Park, Hamburg, New Hartford, Johnson City and Rochester were spared.

Meanwhile, CNBC has reported that Toys R Us is potentially at risk of breaching the covenant on one of its loans.

While negotiations surrounding the bankruptcy have been ongoing, a judge recently allowed Toys R Us to pay millions in bonuses to its top executives.

The company pushed back against the report, saying it was "full of speculation", according to USA Today. The 200 newly-reported planned closures would be in addition to the April closures, and would impact in-store workers in addition to corporate staff.

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