Toys R Us, which filed for bankruptcy in September, is considering closing at least 100 U.S. stores in the face of weak holiday sales, according to people with knowledge of the situation.
U.S. sales have declined about 15 percent this Christmas-shopping season from a year earlier, according to people recently briefed on the matter who asked not to be identified because the information isn’t public. The number of closed stores could reach approximately 200, one of the people said, but no decision has been made.
The Wayne, N.J.-based company operated 879 U.S. stores as of the end of January, according to its last annual report.
Shutting stores is common practice for bankrupt retailers, but Toys R Us has said that its Chapter 11 filing wouldn’t herald a big retrenchment for the largest toy-store chain. Chief Executive Officer Dave Brandon said in September that the company was pushing ahead with plans to open more stores in some cities.
