Toys “R” Us has announced that it will be closing around one fifth of its stores in the U.S. this year.
This means about 180 of the company’s U.S. locations will be shuttered in the coming months. The closings will begin early next month and will continue until around mid April.
Toys “R” Us Chief Executive David Brandon wrote a letter on the company’s website and one part reads, “We estimate store closing sales to begin in early February with the majority of locations closing in mid-April 2018. During this time, we welcome you to take full advantage of the deep discounts and deals available.”
It was last year before the holidays that Toys “R” Us filed for bankruptcy in the U.S. and Canada in order to restructure $5 billion of long-term debt.
The company has 64,000 employees and almost 1,600 stores.