Toys R Us will close another 200 stores

Toys R Us will close another 200 stores

Toys R Us is now reportedly set to close 44 percent of its stores across the U.S.

In January, the company had promised severance to all of the employees at the affected stores.

More news: Markets Right Now: Stocks open broadly lower on Wall Street

The company, which is reorganizing under the Chapter 11 bankruptcy process, also intends to make considerable staff cuts at its corporate offices in Wayne, New Jersey. The latest wave of closings would cut almost in half the number of US stores it had before its bankruptcy filing, the people said.

While negotiations surrounding the bankruptcy have been ongoing, a judge recently allowed Toys R Us to pay millions in bonuses to its top executives.

More news: Albertsons will buy Rite Aid, part of a strategy to counter Amazon

Sources told The Wall Street Journal "discussions about the store closings are continuing, and the number of closures could change".

The company declared bankruptcy in September and already announced its closing 180 stores in the United States, including stores in Palm Beach and St. Lucie counties. The additional closures are thought to be the result of a disappointing holiday season. Like other brick-and-mortar chains, it has struggled to keep pace as shoppers have migrated online.

More news: Japanese 'Super Dad' Wins Custody of 13 Surrogate-Born Babies

Related Articles

  • Kate breaks with protocol and wears GREEN to BAFTA's

    Kate breaks with protocol and wears GREEN to BAFTA's

    Morgan wrote , "Apparently, she's not allowed to exercise HER feminist right to wear whatever colour dress she chooses". The dress was flattering, and had a lovely frill on the hemline, and made the Duchess look rather cheerful and radiant.
    Winter Olympics: USA beat Slovakia to reach men's ice hockey quarter-finals

    Winter Olympics: USA beat Slovakia to reach men's ice hockey quarter-finals

    The United States defeated their rivals from Slovakia for the second time , ending their performance at the Olympics. And neither guy has played. "I think the similarities [this year], I hope, is that they'll surprise some people".
    AT&T reveals its first three mobile 5G cities

    AT&T reveals its first three mobile 5G cities

    Telecommunications experts estimate that 5G speeds will be about 10 times faster than 4G, which is presently the mobile standard. Though mmWave spectrum will be used initially, other additional spectrum bands will be followed later.
  • Imran Khan marries his spiritual guide Bushra Maneka

    Imran Khan marries his spiritual guide Bushra Maneka

    Khan has been married twice before, once to socialite Jemima Goldsmith and then TV presenter Reham Khan. He (Khan) got closer to her when some of the political predictions she made about his party came true.
    Hazardous effort to recover bodies from plane crash in Iran mountains

    Hazardous effort to recover bodies from plane crash in Iran mountains

    The plane's debris was found near the peak of Dena Mountain in southern Isfahan province, into which the plane has crashed . The Tasnim news agency said referring to the air carrier's director that there were no survivors of the crash.
    United States  women's cross-country wins gold

    United States women's cross-country wins gold

    In that story, which ran at the start of the Pyeongchang Games, Diggins told Russell, "We definitely have a chance at a medal". Koch was the only other American to win a medal in cross-country, taking home silver at the 1976 Innsbruck Games.
  • Growing Scandal Forces Australia's Deputy Prime Minister To Resign

    Growing Scandal Forces Australia's Deputy Prime Minister To Resign

    Joyce said he couldn't "enter any discussions" about recently allegations of sexual harassment laid against him. Turnbull stopped short of asking Joyce to resign, but it was still a pretty embarrassing public chiding.
    New MLB Rules Aim To Speed Baseball Games In 2018

    New MLB Rules Aim To Speed Baseball Games In 2018

    And it's an easy pill to swallow now that pitch clocks are officially off the table for the season. What's worth keeping an eye on now is when the pitch clock re-enters the debate.
    Apple speaking with miners directly to buy cobalt

    Apple speaking with miners directly to buy cobalt

    Apple is reportedly looking to secure contracts for several thousand metric tons of cobalt per year for five years or more. According to Bloomberg , the tech giant is in talks to buy long-term supplies of cobalt directly from miners.
  • Sheriff: Deputy Never Entered School in Shooting

    Sheriff: Deputy Never Entered School in Shooting

    When asked what Peterson should have done, Israel said the deputy should have "went in, addressed the killer, killed the killer ". Asked what the deputy should have done, Mr Israel said he should have "went in, addressed the killer, killed the killer ".
    Sally Field tries to set her son up with Olympian Adam Rippon

    Sally Field tries to set her son up with Olympian Adam Rippon

    He helped the Americans win a bronze medal in the team event, then put on a pair of clean skates in the individual competition.
    Real Madrid: Injured Modric and Marcelo could well make it

    Real Madrid: Injured Modric and Marcelo could well make it

    Toni Kroos is nursing a knee injury sustained after the first leg against PSG but is expected to return in time for the return. However, pretty much every injury Marcelo has suffered at Real Madrid has seen him defy the prognosis with his recovery time .