Paramus Babies R Us Store Is Closing

PARAMUS, NJ — The Babies R Us store on Route 17 South is one of the 12 New Jersey stores Toys R Us is closing as part of its strategy following its bankruptcy filing last year.

The Toys R Us locations are among the roughly 20 percent of the chain's locations to be shuttered. The closings for the Wayne-based company 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."

There are 31 Toys R Us and 26 Babies R Us stores in New Jersey.

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.

A NorthJersey.com report last year stated that closing stores would be a part of Toys R Us' post-bankruptcy survival plan.

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.

Related: Toys R Us Files Chapter 11 Bankruptcy, Outlines Strategy
Related: Bankrupt Toys R Us Can Pay Executives $14M In Bonuses: Report

With reporting by Tom Davis
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