Toys R Us is now reportedly set to close 44 percent of its stores across the U.S. The toy store chain, based in Wayne, New Jersey, just announced plans last month to close 180 stores and cut 4,500 jobs.
Things appear to be going from bad to worse for the beleaguered USA arm of Toys R Us as a further 200 stores look set to be closed.
The retailer is another in a long list facing dropping sales as consumers continue to favor online shopping.
The Journal cites a subpar holiday season as one of the main reasons behind the additional closings.
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"The reinvention of our brands requires that we make tough decisions about our priorities and focus", said Dave Brandon, chairman and CEO of Toys R Us, in an open letter published at that time. That's a change from January when the company said it would provide severance to all employees.
While negotiations surrounding the bankruptcy have been ongoing, a judge recently allowed Toys R Us to pay millions in bonuses to its top executives.