Toys “R” Us to Close 75 Stores

Wayne, N.J., Toys “R” Us will close 75 stores this spring, eliminating 3,000 jobs, according to published reports. The cuts represent 11% of the retailer’s work force.

Additionally, the retailer will convert 12 Toys “R” Us locations into Babies “R” Us stores. The changes will result in pretax revamping expenses of $155 million.