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Toys R Us to close over 180 stores nationwide three in San

first_imgToys ‘R’ Us to close over 180 stores nationwide, three in San Diego January 24, 2018 Updated: 6:16 PM , AP, , AP center_img Posted: January 24, 2018 Categories: Local San Diego News FacebookTwitter SAN DIEGO (KUSI) — Toys’R’Us announced Wednesday that it will be closing 182 stores nationwide, including in several in San Diego, as part of a Chapter 11 bankruptcy reorganization plan.The closures are expected to start next month and end in April. Of the 182 stores closing nationwide, three Toys ‘R’ Us locations will be closing in San Diego County. They are at:8181 Mira Mesa Blvd. in Mira Mesa1990 University Drive in Vista1240 W. Morena Blvd. in Mission BayHobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September.Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us.Toys R Us operates about 900 stores in the U.S.Toys R Us, based in Wayne, New Jersey, has struggled with debt since private-equity firms Bain Capital, KKR & Co. and Vornado Realty Trust took it private in a $6.6 billion leveraged buyout in 2005. The plan had been to take the company public again, but weak sales have prevented that from happening.Brandon said Wednesday that the company made some missteps during the critical holiday shopping season.“As the leader of this company, I want you to know that we can and will address the gaps in the experience that you may have had when shopping this holiday,” Brandon said. “My team is already hard at work to make the improvements necessary to ensure that we have the products you want, when, where and how you want them.” last_img

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