Toys ‘R’ Us to Close 182 Stores as Part of Restructuring<br />The toy chain, which filed for bankruptcy in September, said in a court filing late Tuesday<br />that the stores selected for closing had failed to meet “performance standards.”<br />The planned closings represent about 20 percent of Toys “R” Us stores in the United States, which span from California to New York.<br />Like many other brick-and-mortar retailers, Toys “R” Us has struggled to adjust its business models to deal with the rise of e-commerce.<br />Even as other retailers experienced banner sales in November and December, Toys “R” Us said, its sales were disappointing.<br />Toys “R” Us is planning to close as many as 182 of its stores as it struggles to reorganize in bankruptcy.<br />When Toys “R” Us filed for bankruptcy, it initially kept all of its stores open and hired more workers ahead of the holidays.<br />A spokeswoman said the company would try to find positions in other stores for as many of the displaced workers as it could.<br />But all along, many lawyers and creditors involved in the case had expected<br />that the company would eventually seek to close stores to cut costs, soon after Christmas.
