Toys R Us Closing 4 Stores In The Twin Cities

WOODBURY, MN — Four Minnesota Toys R Us stores are among 180 closing as the retailer attempts to emerge from bankruptcy protection, according to a statement from the company on Wednesday. Toys R Us locations in Woodbury, Richfield, Minnetonka, and Blaine are among the roughly 20 percent of the chain's locations set to be shuttered.

The closings will start in early February and run through mid-April.

"The reinvention of our brands requires that we make tough decisions about our priorities and focus," said Toys R Us chairman and CEO David Brandon said in a release. "The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company."

In addition to the closures, Brandon said an undisclosed number of surviving locations will be co-branded as Toys R Us and Babies R Us stores.

Toys R Us filed for bankruptcy in September amid waning sales and mounting debt. The toy store chain has faced stiffening competition from Amazon, Walmart, and Target.

Last year was a disaster for brick-and-mortar retailers that announced plans to close more than 7,000 stores - a whopping 224 percent increase in announced store closures compared to 2016.
Chains that already have confirmed they will be shuttering locations in 2018 include Bon-Ton, Gap, Sears-Kmart, Tevana and Walgreens.

The complete list of Toys R Us locations to close is here.

Photo credit: AP Photo/Eric Gay, File