KB Toys closing, files Chapter 11

KB Toys Inc. has filed for Chapter 11 bankruptcy protection with plans to close its chain of stores, including its Towne Mall location in Elizabethtown.

The Elizabethtown store is having a closing sale, according to its manager, who was unaware of any definitive closing date.

The Pittsfield, Mass.-based retailer cites sharp declines in consumer spending in its petition for bankruptcy protection.

KB Toys Inc. has 460 stores companywide and six in Kentucky. It opened its first store in 1922 and is the country's oldest mall-based toy store.

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