KB Toys To Close Four Arkansas Stores
By: Import User
Updated: January 7, 2009
The KB Toys chain has announced that it`s
closing four stores in Arkansas after the Massachusetts-based
company filed for bankruptcy.
The Arkansas locations are in Fayetteville, Fort Smith, Hot
Springs and North Little Rock. The only KB Toys store to remain
open in Arkansas will be at Jonesboro.
The closings are part of a company initiative to shutter one
third of its locations. In its bankruptcy filing, the company
blamed a very aggressive price war launched by large discount
department stores and KB`s main competition -- Toys R- Us.
The chain plans to close 375 of its 12 hundred 31 stores, laying
off 35-hundred employees.
Closing dates for the Arkansas stores will depend on how quickly
merchandise is liquidated.
