Local Babies “R” Us Store Closing Due to Toys “R” Us Bankruptcy
Last September, national toy store chain Toys “R” Us filed for bankruptcy to restructure their five billion dollars worth of debt. The company stated that their 1,600 brick and mortar stores were “mostly profitable” at that point in time and did not announce any location closures.
That changes today as the company has now announced the closure of 11 percent of its locations, totaling 182 stores. Four of those locations are in Ohio, with the only Central Ohio location announced as the Babies “R” Us store located at 3610 West Dublin-Granville Rd. located in Northwest Columbus.
Closeout sales at those 182 locations around the country will begin sometime in February with stores expected to be shuttered in April.
The closures are the latest in what some industry professionals have dubbed the “Retailpocolypse,” which began in earnest in 2017 with nearly two dozen major national retail businesses announcing bankruptcies and closures including Sears, Macy’s, The Limited, RadioShack, Gymboree, American Apparel and others.
Most closures have been cited as the result of several common factors including the overdevelopment of retail space, increased competition with online retailers like Amazon, and changes in consumer buying habits that include less time spent in traditional suburban malls.
Following the local closure, two Central Ohio Babies “R” Us locations will continue to operate at Polaris and in Reynoldsburg. There are five Toys “R” Us stores located in Central Ohio that will not be affected by today’s closure announcement.