1. Toys 'R' Us has announced that it intends to close 180 of its toy and Babies 'R' Us stores, about a fifth of its U.S. locations, as part of a restructuring as it tries to get out of bankruptcy protection.
2. USA Today has compiled a list of closing stores, and they include four in the Twin Cities: Blaine, Woodbury, Richfield and Minnetonka.
3. The closures are not guaranteed yet. Because it's in bankruptcy protection, it needs the approval of the courts before they can shutter the stores, CNBC notes.
What Else You Should Know
The four Twin Cities stores that are earmarked for closure include 2 Babies 'R' Us stores, the ones in Woodbury and Richfield.
It will leave the metro area with just two Toys 'R' Us stores, in Maplewood and Burnsville, and a sole Babies 'R' Us in Maple Grove.
Outside of the Twin Cities, only Rochester has a Toys 'R' Us store.
It doesn't come as a huge surprise, given that Bloomberg reported in December that the troubled chain was considering at least 100 closures.
It comes amid wider competition from online retailers like Amazon in the toy space, which has seen bricks-and-mortar chains like Toys 'R' Us struggle.
One of the biggest beneficiaries of the closures is likely to be Target.
CNBC reports that Target is the one retailer that shares shoppers and locations similar to Toys 'R' Us, with retail analysts saying the Minneapolis-based company should stand to pick up some of Toys 'R' Us' lost sales.