Toys”R”Us chairman and C.E.O., Dave Brandon, posted an announcement on the Company’s business activities.
“I want to take a moment to thank you for your continued support of Toys”R”Us. As you may be aware, we launched a financial restructuring of our business last fall….Our primary focus is on reimagining our business with you in mind. We want to make it easier for you to shop with us, whether online or in our stores. This past season, we were successful in accomplishing this objective for millions of customers. However, there were also far too many transactions where this wasn’t the case—due to our operational missteps. 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….We recently relaunched our price match program to give you greater confidence when buying from us, and in 2018 we are taking additional steps to ensure that we provide greater overall value to you and your family….The reinvention of our brands requires that we make tough decisions about our priorities and focus. To that end and following a top-to-bottom assessment of our business, we have decided to close a number of our U.S. stores. We also intend to convert a number of locations into co-branded Toys”R”Us and Babies”R”Us stores….We estimate store closing sales to begin in early February with the majority of locations closing in mid-April 2018. During this time, we welcome you to take full advantage of the deep discounts and deals available.”
For more on the Toys”R”Us bankruptcy go to BankruptcyData.