Toys R Us plans to close 182 stores, citing holiday 'missteps'

NEW YORK - Toys R Us, a nostalgic favorite even as many shoppers moved to Amazon and huge chains like Walmart, plans to close up to 182 stores after struggling during the holiday season.

The company that once dominated toy sales in the United States has been operating under bankruptcy protection since last fall, when it filed for Chapter 11 under the weight of $5 billion in debt. Toys R Us operates about 900 stores in the US, including Babies R Us stores.

"I'm very sad about Toys R Us closing," said Dana Gillis, who was shopping at the store in Highland Park, Illinois, on Wednesday.