Is This the End For Toys ‘R’ Us in Danbury and the Hudson Valley?
Could this be the last Holiday Season you get a chance to shop at a Toys 'R' Us store in Danbury or one of the many in the Hudson Valley? The answer may be yes.
According to a new report just released from Toys 'R' Us' corporate and published by patch.com, the once dominate retail toy giant may close up to 200 stores nationwide in 2018, and that could include stores in Danbury and the Hudson Valley.
There's no word yet on the exact number of stores that will close or where they are located, but slumping Holiday sales this year — down 15% from last Holiday Season — have prompted the speculation. The toy store has struggled in recent years to compete with on line retailers like Amazon and Walmart.
Toys 'R' Us filed for Chapter 11 bankruptcy protection back in September, citing restructuring, and claimed then that no stores would be closing.
According to NorthJersey.com, the company is not in a good place right now. The latest set back during their busiest season of the year is that 40% of the company's toy vendors have refused to ship merchandise unless their outstanding bills were paid, or they received cash on delivery or cash in advance.
As far as closing some of their 879 stores across the country, the company said it is “currently performing a detailed review of their real estate portfolio” and is identifying poorly performing stores and locations where the rents are too high in order to reduce the retail square footage.
There are Toys 'R' Us stores in Danbury, and in the Hudson Valley in Poughkeepsie, Wappingers Falls, Kingston, Jefferson Valley, Central Valley, Middletown, Nanuet, White Plains and Yonkers.
'Lovin You Face-to-Face' — Ethan and Lou Sing an Ode to Facebook
Thanks for Giving Greater Danbury Kids a Christmas They Deserve