Lights Out At Child World
Toy retailer Child World is shutting its doors for good. On Aug. 4, Chairman John Devine said he'll close the toy supermarket's 71 remaining stores in early September. The move comes after merger talks with Lionel broke down and bankers refused requests for loans. Devine, a former top Toys 'R' Us executive, was brought in last year by new owners to rescue the retailer after a disastrous 1990 Christmas. Last year's Christmas sales again came in well below expectations, and Child World sought Chapter 11 protection in May.