CHERRY HILL, NJ — The Cherry Hill Babies R Us store located at 2135 Route 38 is one of 12 Toys R Us stores and their subsidiaries in New Jersey and 180 nationwide that will be closing. The closings, which take place as the retailer attempts to emerge from bankruptcy protection, will begin early next month and run through mid-April.
"The reinvention of our brands requires that we make tough decisions about our priorities and focus," 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.
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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.
A federal bankruptcy judge ruled late last year that Toys R Us may pay 17 executives about $14 million in incentive bonuses if it hits a certain earnings amount. Attorneys representing the company argued that the bonuses would help executives focus on increasing sales during the past holiday season.
Find out what's happening in Cherry Hillfor free with the latest updates from Patch.
See related: Toys R Us Closing 12 New Jersey Stores
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