2 Toys R Us Stores Closing In Morris County

EAST HANOVER, NJ — Two Toys R Us locations in Morris County will be closing, the company announced Wednesday morning.

The Mount Olive and East Hanover locations are among the 12 in the state who will be closing their doors for good. It's not clear when exactly they'll close, but most closures are expected to begin early next month and run through mid-April. The Totowa and Rockaway stores will remain open.

Nationwide, the company is closing 180 stores, or 20 percent of their locations after filing for bankruptcy last year.

Other locations closing in New Jersey are:

• Phillipsburg 1280 Rt. 22 & St. James Ave.
• Eatontown 137 Route 35
• Bridgewater 100 Promenade Blvd.
• Union 2700 Route 22 East.
• North Brunswick 909 US Hwy 1 South.
• Burlington Rt. 541 & Cadillac Road
• Cherry Hill 2135 Route 38
• Wayne 7 Wayne Hills Mall
• Paramus 545 Route 17 South
• Elizabeth-KidsWo 900 Center Drive

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.

The news is the latest sign of trouble for brick-and-mortar stores across the region. Chains that already have confirmed they will be shuttering locations in 2018 include Bon-Ton, Gap, Sears-Kmart, Tevana and Walgreens.

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.

Image: the East Hanover Toys R Us, via Google Maps