Toys R Us lays out post-bankruptcy strategy

Toys R Us wants to use its bankruptcy filing as a way to transform its stores into "interactive spaces."

It also plans to close an unspecified number of its 1,600 stores.

Officials said in a a court filing Tuesday that "leases are a substantial burden" on its finances. The company also hopes to renegotiate some leases.

From 2018 to 2021, the company plans to invest $277 million to convert existing locations into side-by-side storefronts for toys and the company's Babies R Us brand.

"Once these initiatives are implemented, Toys R Us stores will be interactive spaces with rooms to use for parties, live product demonstrations put on by trained employees, and the freedom for employees to remove products from boxes to let kids play with the latest toys," CEO David Brandon said in court papers.

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