Struggling retailer Toys “R” Us Inc. is seeking bankruptcy court approval to close two stores badly damaged by Hurricane Maria in Puerto Rico, after reaching settlements with landlords of the properties, while repairing three other locations, WSJ Pro Bankruptcy reported. Toys “R” Us has been assessing the damage done to its five stores in Puerto Rico, which were affected by the hurricane shortly after the company sought chapter 11 protection in mid-September. The retailer decided to repair and continue operating three of its stores, and would reject the unexpired leases for two of the stores that would see the costs outweigh the value of repairs, according to court papers filed on Thursday. Toys “R” Us estimated that it would collectively cost about $4.3 million to repair both of the locations, which would take an estimated year for both of the stores.
