Toys 'R' US closing stores, including one in the Houston area

Toys "R" Us, squeezed by and huge chains like Walmart, plans to close about 180 stores nationwide, including one in the Houston area.

Hobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September.

Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys "R" Us.

Brandon said that the majority of the targeted stores will be closed by mid-April and that there will be deep discounts at those locations.

Locally, the store on 9730 Katy Freeway is on the closures list. Seven more locations in Texas are also slated to close.

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Going out of business sales are scheduled to begin at the affected stores in February.

Toys "R" Us is based in Wayne, New Jersey.

The Associated Press contributed to this report.

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