Report: 200 more Toys 'R' Us stores could close - Bring Me The News

Report: 200 more Toys 'R' Us stores could close

That's on top of the 180 already closing.
Author:
Updated:
Original:

'What's happening? 

Beleaguered chain Toys 'R' Us is reportedly planning to shutter even more stores.

That's according to the Wall Street Journal, which cites "people familiar with the matter" to report the retailer could close a further 200 of its Toys 'R' Us and Babies 'R' Us locations.

Heads are also expected to roll at the corporate office as well, while the company is believed to have "walked back" offers of severance for some employees already laid off.

Hasn't it just shut some stores?

Yes, the company announced last month it would be closing 180 stores nationwide, and that included four stores in Minnesota.

That included four in the Twin Cities: Blaine, Woodbury, Richfield and Minnetonka – the Richfield and Woodbury locations being Babies 'R' Us.

A renegotiated lease ultimately saved the Blaine store from closure, the Star Tribune reports.

Nonetheless, it still leaves Minnesota with just four Toys 'R' Us stores – in Maplewood, Burnsville, Rochester and Blaine – as well as a sole Babies 'R' Us in Maple Grove.

If another 200 store cull is in the offing, expect Minnesota to have even fewer.

Target was thought to be one of the companies set to cash in on Toys 'R' Us' troubles, but Reuters reports that investors are cautious about the Minneapolis-based chain putting too much capital into toys.

Next Up

Related