Toys R Us closures

TOYS R Us is preparing to close one-fifth of its stores in the US as it tries to claw itself back from bankruptcy.

Around 180 of the children’s toy stores will close from early February after it filed for bankruptcy protection.

David Brandon, chief executive, said it would slash prices and bring back its loyalty scheme. ‘The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company,’ he said.

Toys R Us’s UK business is readying to close at least a quarter of its 105 stores.