Toys R Us to close Geoffrey’s store in Meridian

Published 6:01 pm Wednesday, January 24, 2018

Geoffrey’s in Meridian is among the nearly 200 Toys R Us locations in the U.S. scheduled to close in the next few months.

Once a bustling toy store located at 1003 Bonita Lakes Circle next to Bonita Lakes Mall, Geoffrey’s is expected close by April.

Newsletter sign up WIDGET

Email newsletter signup

The decision to close 182 of its 900 retail stores in the U.S. — including Geoffrey’s and Babies R Us stores — came after Toys R Us filed for Chapter 11 last fall under the weight of $5 billion in debt.

“We had known that the Toys R Us Geoffrey’s company was a possible candidate for bankruptcy over the last six months,” said Andy Weiner, president of the Rockstep Capital, LLC, which owns the building and the mall. “Now that they are in bankruptcy, it’s apparent that this store can’t be supported as a viable store… We are sorry to see them leave the market.”

Toys R Us also lists its stores on Bass Pro Drive in Pearl, McFarland Boulevard in Tuscaloosa and Summit Boulevard in Birmingham as targeted to close.

Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us, adding that the majority of the targeted stores will begin closing in February and that there will be deep discounts at those locations.

While Toys R Us didn’t say how many jobs will be cut, it said some employees will be moved to other stores and those who cannot be will get severance.

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

He acknowledged “operational missteps” during the critical holiday shopping season when shopping at its stores and online wasn’t as easy as it should have been.

“The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience you should expect,” he said in a letter to customers.

The store manager at Geoffrey’s declined to comment.

Weiner said there are other possibilities for the building.

“We have some backfill candidates who have expressed interest in their building and now that that building is available, we will work with those candidates to get them to come to Meridian,” Weiner said.

The announcement comes just days after Crossroads Phase II developer said the long-awaited shopping center expansion was back in play.

City of Meridian Community Development and Cultural Affairs Director Laura Carmichael on Monday said Charlotte-based developer Collett Capital is ready to begin developing the 12.95-acre site, located across from Krystal near Bonita Lakes, said City of Meridian Community Development Director Laura Carmichael.

It wasn’t made clear whether or retailers such as Hobby Lobby, Dick’s Sporting Goods and Kirkland’s were still committed to the location, but the developers are “working through some economics and development approvals through the city,” and moving forward is “contingent on making sure everything meets approval,” Carmichael said.

Recently, Meridian was spared the closure of two major retailers, Sears and Bed Bath & Beyond.

Sears Holding Company on Jan. 4 said it planned to close more than 100 stores in March and April of this year, but Meridian was not on the list.

After rumors circulated about the store closing, Howard Riefs of Sears Holding said in an email “That’s a bad rumor. The store will remain open.”

Bed Bath & Beyond, which announced late last year it was closing, continues to operate at its current location in Meridian Crossroads shopping center.

Meridian Bed Bath & Beyond general manager Keith Lumpkin said the decision to stay open was made earlier this month.

Bed Bath & Beyond spokesperson Leah Drill in December 2017 said that the store was closing because of an expiring lease term.

On Jan. 10, Drill said in an email that the company reached “a mutually beneficial renewal with the landlord, and “the Bed Bath & Beyond store on 131 S. Frontage Road will remain open.”

— The Associated Press contributed to this report.