Wayne, N.J. — Toys ‘R’ Us is planning to shutter up to 182 underperforming stores across the country as part of its Chapter 11 bankruptcy reorganization plan.
The planned closings represent about 20 percent of the retailer’s U.S. store fleet, or a collective 6.9 million square feet. The Wayne, New Jersey-based retailer filed for bankruptcy last September.
“The reinvention of our brands requires that we make tough decisions about our priorities and focus,” said Dave Brandon, chairman and CEO of the company in a statement to customers. “The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience you should expect from a market leader.”
Going-out-of-business sales are expected to begin in early February, with the majority of locations closing in mid-April 2018. In addition to closing stores, the retailer plans to convert a number of locations into co-branded Toys ‘R’ Us and Babies ‘R’ Us stores.
Click here to read the full list of closures, as compiled by USA Today.