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Toys R Us To Start Closing Stores In February

NEW YORK (CBSNewYork/AP)Toys R Us, squeezed Amazon.com and huge chains like Walmart, will begin closing a number of its stores starting in February.

Hobbled 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.

Brandon said that the majority the targeted stores will be closed by mid-April and that there will be deep discounts at those locations.

Toys R Us is based in Wayne, New Jersey.

For a complete list of closing stores, click here.

(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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