January 24th, 2018 by WCBC Radio
Toys R Us, squeezed Amazon.com and huge chains like Walmart, will begin closing a number of its stores starting in February. Hobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September. Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us.
The letter also didn't disclose how many stores would be closed and the company did not immediately return a message seeking details. However, Kotaku reports the chain's Clinton location will close. The chain has 24 Toys R Us and Babies R Us locations in Maryland, including one in Hagerstown.
Brandon said that the majority the targeted stores will be closed by mid-April and that there will be deep discounts at those locations.
Toys R Us is based in Wayne, New Jersey.
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