It appears that, according to the BBC, out of the 106 stores currently open in the UK, at least 25 of them will be closed in the coming months due to issues of rental costs and the model of the stores themselves. You can read more about the issue here, but it seems as though holiday retail at least will not be affected, though several thousand jobs will be cut if no solution is found on time.
Worth noting: this is an entirely different issue than the Chapter 11 filing, and is limited to the UK locations of the retailer.
The closures would form part of a deal to renegotiate debts owed by the company to its landlords - which must be agreed by 75% of its creditors.
The toy giant, which has around 3,000 workers, is looking to move away from its "big-box" out-of-town store model.
Christmas trading and gift cards are not expected to be affected.
The company is seeking approval from its board and US parent company to enter talks with the landlords.
[orders Misfire from Timmy's Toy Box/Amazon.com]
