Toys ‘R’ Us to Shut About 180 Stores in Bid to Exit Bankruptcy

Toys “R” Us Inc. is planning to close about 180 U.S. stores as part of a reorganization plan to emerge from its September bankruptcy, according to a court filing.

The move to shutter about 20 percent of its U.S. store base, which needs court approval, comes four months after the world’s largest toy chain filed for protection from its creditors, a response to years of lackluster results and an unsustainable $5 billion debt load. The closures will begin next month, with Babies “R” Us locations accounting for at least half.

In December, Bloomberg News reported that the retailer would ...