At least 100 stores could be on the chopping block as Toys 'R' Us is in the midst of reorganization after filling for Chapter 11 bankruptcy in September, Fortune Magazine reported on Monday.
According to Fortune sources, Toys 'R' Us has seen a 15 percent decline in sales during this holiday season compared to last year. The drop in revenue would cause Toys 'R' Us to close at least 100 stores, and possibly up to 200 locations in 2018.
There has been no official announcement on store closures.
“Final decisions about our real estate portfolio will be done only after careful consideration about the best interests of our business,” spokeswoman Amy von Walter told Fortune. “Any speculation on that figure is premature and likely to be inaccurate.”
Toys 'R' Us currently operates 900 locations nationwide.
Overseas operations have already been affected by Toys 'R' Us' decline. The company announced earlier in December plans to close 26 locations in the United Kingdom in the coming months.
In its bankruptcy filling in September, the company said it needs to restructure nearly $5 billion in debt.