Toys ‘R’ US has announced that it will be closing “a number” of its US-based stores beginning February, with the global retailer having filed for bankruptcy protection across North America back in September.
According to Reuters, this number will stand to be about one fifth of the company’s total US stores, equating to approximately 180 retail outlets.
CEO David Brandon made the announcement in a note to the firm’s customers, providing an update on the company’s progress amidst its efforts to find a financial solution to its predicament through the restructuring of its operations.
“The reinvention of our brands requires that we make tough decisions about our priorities and focus,” Brandon said. “To that end and following a top-to-bottom assessment of our business, we have decided to close a number of our US stores. We also intend to convert a number of locations into co-branded Toys ‘R’ Us and Babies ‘R’ Us stores.”
Despite undergoing these changes, the company has confirmed that all of its other stores across North American and Europe will remain open for business.
In addition, it will aim to expand more readily online to compete in the growing ecommerce sphere, as well as offering both heavy discounts and a more attractive loyalty programme in an attempt to entice customers.