Toys R Us is closing 200 more stores & laying off workers

The retailer plans to close an additional 200 locations and lay off “a significant portion of its corporate staff,” people familiar with the matter told The Wall Street Journal. 

Toys R Us previously announced that about 170 stores would be shuttered by April, resulting in 4,500 workers losing their jobs. The 200 newly reported planned closures will be in addition to the April closures, and likely impact even more in-store workers in addition to corporate staff. 

Sources told The Wall Street Journal “discussions about the store closings are continuing, and the number of closures could change.” Toys R Us did not immediately respond to Business Insider’s request for comment.

Toys R Us has struggled in recent years, as budget retailers like Walmart and e-commerce giants like Amazon have begun selling more toys at greater discounts.

The company filed for bankruptcy in September. If Toys R Us closed an additional 200 stores in the US, it would cut its domestic retail operation in half — from roughly 800 in September, to just 400.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.