Toys R Us announced late Tuesday it will close one-fifth of its stores, including two in Maine.
The Babies R Us in South Portland and the Toys R Us store in Bangor are among the 180 stores that will close between early February and mid-April, Toys R Us chief executive David Brandon said in a letter posted on the company website. He acknowledged gaps in customer experience during the holiday season and pledged to focus on improving shopping experiences both online and in stores.
The toy chain, hobbled by $5 billion in debt and more competition, filed for protection from its creditors ahead of the 2017 holiday season.
The company plans to remodel a number of locations by converting them into co-branded Toys R Us and Babies R Us stores.
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