Business News

Two of the nation's larger retails chains are planning to shut down dozens of stores.

Toys R Us is planning to close 87 of its store in the coming months as part of its reorganization after being taken private last year. A dozen of the locations will be converted to Babies R Us stores.

Local management says the Panama City Toys R Us store on 23rd Street across from the Mall will not be closing.

Also, retailer OfficeMax plans to close 110 stores nationwide between now and the end of March. OfficeMax is the nation's number three office supplies retailer.

We called local store management about the closing. They referred us to the corporate officials who did not return our calls. The status of the local store still isn’t known.