LITTLE ROCK, Ark. - Toys R Us is planning to shutter a fifth of its U.S. stores, including two in Arkansas.
CNNMoney reports that the troubled retailer, which declared bankruptcy in September, is looking to close as many as 182 outlets across the country, according to a court filing late Tuesday.
Arkansas stores on the list are:
- Little Rock, Babies "R" Us, 2616 S. Shackleford Rd.
- Fort Smith, Toys R Us, 5609 E. Rogers Ave.
Over nearly seven decades in business, Toys R Us has built up 1,600 stores around the world. About 880 of them are in the U.S.
The filing Tuesday by the company's lawyers said the decision to shut so many stores was prompted by increased competition and a shift by customers toward online shopping.
The planned closures, which need court approval, are expected to begin early next month and be mostly completed by the end of April, Toys R Us CEO Dave Brandon said in a message to customers posted on the company's website.
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