Toys R Us Closing 200 More Stores

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A recent report claims that troubled toy seller Toys R Us is planning to close down another 200 stores.

Toys R Us Closing 200 More Stores

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According to this report, Toys R Us is planning to close down the additional 200 stores following disappointing sales during its holiday quarter. The sources behind the report also claim that the retail chain will be reducing its corporate workforce.

To go along with the report of Toys R Us closing more stores is talk about what it plans to do with its employees. Insider sources reportedly say that the company is no longer planning to offer severance to employees that lose their jobs due to store closures. This is a shift from its previous stance on the matter.

“As we have shared publicly, our focus is on the reinvention of our business and emergence from chapter 11,” Amy von Walter, a spokesperson for Toys R Us, told The Wall Street Journal on Wednesday. “Decisions about our future store footprint and organizational structure will be based on needs of the new business model and so it would be premature for me to comment on that.”

The report that claims Toys R Us is closing down 200 stores is in addition to other closures already announced by the retailer. This includes a previous 180 stores that the company announced it would be closing back in January.

The Toys R Us closings come after the company filed for bankruptcy late last year. It’s possible that this announcement is part of what hurt the company’s holiday shopping quarter.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/toys-r-us-closing-200-stores/.

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