KB Toys has announced plans to close another 141 to 238 stores by the end of January. The company had previously announced plans to close up to a third of the 1200 stores it had when it entered Chapter 11 bankruptcy proceedings (see 'KB Toys Can't Shake Chapter 11'). The latest round of store closings will leave KB with around 600 stores.
It is already looking like price competition on toys this holiday season will once again be tough (see 'Toy Price Competition Heats Up'); the price competition last year was credited for the Chapter 11 filing of KB Toys and the liquidation of FAO Schwartz.