KB’s store closings multiply
By Cliff Annicelli -- Playthings, 10/31/2007 12:17:00 PM
NEW YORK—KB Toys’ previously announced plan to shutter approximately 30 stores has grown to at least 150 locations, according to KB Toys employees who have contacted Playthings about the retailer’s in-progress store closing initiative.
According to a source at the company who asked to remain unidentified, district managers were notified last week to begin informing to-be-closed stores in their districts of their status. Liquidators contracted to run store closings will begin wind-down efforts on Nov. 8.
Calls to KB Toys by Playthings seeking confirmation of the retailer’s plans were not returned.
In recent days, several current and former KB Toys employees have posted their thoughts on the situation to Playthings.com’s TalkBack section.
This week, DJM Realty, the Melville, N.Y.-based unit of Gordon Bros. Group, listed 48 KB Toys locations as available for assignment or sublease. The locations span 20 states and Puerto Rico. Virginia, with five locations on the list, stands to lose the largest number of doors.
Earlier this month, KB closed its distribution center in Montgomery, Ala., according to The Montgomery Advertiser. It continues to operate DCs in Arizona and New Jersey.
