KB Toys Inc. has filed for Chapter 11 bankruptcy protection with plans to close its chain of stores.
The toy retailer cited sharp declines in consumer spending for the filing.
Locally, KB has locations at the Round Rock Premium Outlets and at the Tanger Outlet Center in San Marcos, according to the company's Web site. There are 23 locations in Texas, and 460 locations companywide.
The Pittsfield, Mass.-based toy store chain is located in shopping malls and has faced financial struggles off and on for several years as it competes with big-box rivals.
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