WARWICK,RI — Toys R Us plans to close 182 stores nation wide, including their Warwick Babies R Us store at 300 Quaker Lane, a measure the company says will help position it as a strong market leader after bankruptcy and restructuring.
The Warwick Toys R Us store will remain open.
The list of 182 stores is pending court approval, and is not a final list, said Taylor O’Donnell, coordinator of corporate communications at Toys R Us. There is a chance that some of the stores will not be closed.
About a dozen of previous locations will be opening as co-branded Toys“R”Us and Babies“R”Us stores. The announcement comes after a the company and its U.S. subsidiaries filed for Chapter 11 bankruptcy protection Sept. 18, 2017. The company’s Canadian subsidiary Toys- Toys-Canada commenced parallel proceedings under the CCAA in Canada.
The company must reject its store leases and surrender possession of the locations by Aug. 31, 2018 or remain in the locations until Jan. 4, 2019.
“The actions we are taking are the right and necessary step in our journey to reinvent our business. They will give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience customers expect from a market leader,” O’Donnell said.
“The successful reinvention of our brands requires that we make tough decisions about our priorities and focus. 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 that will provide the level of service and experience customers should expect from a market leader,” the company wrote in a statement about the closures.
The company released a list of the stores they plan to close: