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Another 200 Toys 'R' Us Stores To Close, Report Says

Another 200 Toys 'R' Us Stores To Close, Report Says

Ailing toy retailer Toys R Us is reportedly making preparations to shutter a further 200 stores across the US.

According to a report from the Wall Street Journal, the toy chain also plans to lay off a significant portion of its corporate staff.

The new store closings would be on top of those previously announced.

The 200 store closings would be in addition to the approximately 170 USA stores where Toys R Us now is holding going out of business sales.

The Wall Street Journal says that the number of store closings could go even higher.

In that list of stores, the only Virginia locations set to close are a Babies R Us in Potomac Mills and Newport News.

"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.

Meanwhile, CNBC has reported that Toys R Us is potentially at risk of breaching the covenant on one of its loans.

Toys R Us hasn't reported its holiday results, but USA Today said store sales dropped 9 percent and online sales fell 20 percent.

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