EATONTOWN: The Toys R Us on Route 35 in the borough has been spared from the company's cuts.
It was announced last month that the store was one of 180 Toys R Us stores across the country that would be closing its door. However, lease renegotiations were able to save the store and it will no longer be closing this year.
The Edison-based toy company filed court documents outlining its plans to close over 180 stores as part of its bankruptcy reorganization plan on Tuesday evening, Jan. 23.
"The reinvention of our brands requires that we make tough decisions about our priorities and focus," according to a letter from Toys R Us Chairman and CEO Dave Brandon. "To that end and following a top-to-bottom assessment of our business, we have decided to close a number of our U.S. stores."
Brandon said some stores will be converted into co-branded Toys R Us and Babies R Us locations.
"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 that will provide the level of service and experience you should expect from a market leader."