Hasbro Inc.’s Wizards of the Coast
subsidiary, which makes trading card games and role-playing games
including Magic: The Gathering and Dungeons & Dragons, said it
will close its chain of retail stores.
The company hired Gordon Brothers Group of LLC of Boston to
help with the store closings, which it expects to complete in
about 60 days, it said in a release distributed by Business Wire.
Spokeswoman Barbara Dawson didn’t immediately return a call to
her office.
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The unit is closing its stores, including the affiliated
Game Keeper stores, to focus on designing games, it said in the
statement. Toy retailers have been facing tough competition from
discounters such as Wal-Mart Stores Inc. that have slashed
prices. Toy retailer FAO Inc. filed for bankruptcy protection
earlier this month.
Shares of Hasbro, the world’s second-largest toymaker, fell
3 cents to $21.22 last Friday in New York Stock Exchange composite
trading. They have gained 84 percent this year.
Bloomberg News
