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Business First of Columbus wrote KB Toys files for bankruptcy, to close storesKB Toys Inc. has filed for Chapter 11 bankruptcy protection with plans to close its chain of stores, little more than three years after reorganizing under a previous bankruptcy filing.
The Pittsfield, Mass.-based chain cited sharp declines in consumer spending. Proceeding with liquidation sales nationwide will lead to the closure of 460 stores, including a dozen in Ohio and two in Central Ohio at Polaris Fashion Place mall and the Mall at Tuttle Crossing.
KB, which Big Lots Inc. (NYSE:BIG) spun off in 2000, first filed for Chapter 11 bankruptcy protection in January 2004 and emerged in the summer of 2005. That reorganization led to the closure of about 600 stores, including those at Columbus’ Eastland and City Center malls.
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KB Toys files for bankruptcy, to close stores
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heresthecasey
Funkytown
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Posted 4 years ago #
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