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KB Toys Will Close Seven Minnesota Stores

MINNEAPOLIS-The closings are part of the firm's restructuring efforts. Approximately 375 stores across the country will be shut down.

By Jim McCartney | Updated on January 30, 2004

MINNEAPOLIS-KB Toys will close seven of its 10 Minnesota stores, including three in the Twin Cities, as part of its efforts to emerge from Chapter 11 bankruptcy. KB Toys says that the Minnesota stores are among the approximate 375 stores across the country that will close as part of its restructuring efforts. In Minnesota, the stores are at Northtown Shopping Center in Blaine, Burnsville Center in Burnsville, Miller Hill Mall in Duluth, River Hills Mall in Mankato, Medford Outlet Center in Medford, Apace Mall in Rochester and Horizon Outlet in Woodbury. The Pittsfield, MA-based retailer says it will continue to operate over 750 stores throughout the US and nearby territories.

KB Toys has received approval from the U.S. Bankruptcy Court for the District of Delaware to hire three companies—The Ozer Group, The Nassi Group and SB Capital Group—to conduct store-closing inventory sales. The company expects to identify by Feb. 11 an additional 19 to 115 stores it will close.

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