LOS ANGELES (CBSLA) — Toys ‘R’ Us announced that it will be closing an additional 200 stores due to poor sales performance during the holiday season.
The toy retailer also plans to lay off a significant portion of its corporate staff, according to the Wall Street Journal.READ MORE: Gas Prices In Southern California Keep Ticking Up, But Cyberattack On East Coast Pipeline Not Expected To Make An Impact
This new wave of closures comes after the company announced last month that it would be closing over 180 of its nearly 880 U.S. stores, affecting 4,500 workers.READ MORE: FBI To Hold News Conference On Beverly Hills Restaurant Shooting
Toys ‘R’ Us, which has over 1,600 stores worldwide, will also reportedly be taking back a promise to offer severance pay.MORE NEWS: Thursday Last Day To Claim $26 Million SuperLotto Ticket Sold In Norwalk
Closures are expected to begin in February, most of which are set to take place in April.