Woodbury Babies ‘R’ Us among hundreds of stores slated to close
The Woodbury Babies ‘R’ Us is among several stores slated to close as parent company Toys 'R' Us undergoes bankruptcy proceedings.
The New Jersey-based retailer, once the country’s leading toy seller, filed for Chapter 11 bankruptcy protection last fall under the weight of $5 billion of debt.
On Wednesday, company leaders announced a list of closures affecting more than 180 locations, or roughly 20 percent of all stores.
The list included locations in Minnetonka, Blaine and Richfield, as well as the Babie ‘R’ Us store in Woodbury’s Tamarack Village shopping center.
Toys ‘R’ Us CEO Dave Brandon pointed to “operational missteps” in a statement on the retailer's website. He said the decision to downsize was “necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company."
The company is planning going-out-of-business sales starting in early February and ending in March.