Even before last week’s announcement that Toys R Us Inc. had agreed to a $6.6-billion takeover offer from two private equity firms, rumors were rampant that Toys R Us stores, including the one at Janss Marketplace in Thousand Oaks, would close.

Those rumors are false, said Susan McLaughlin, director of corporate communications for Toys R Us, which is based in Wayne, N.J.

"The deal will hopefully be done by July," McLaughlin said. "At this point there are no plans for any stores to close."

But Toys R Us has seen a decline in sales in recent years as discounters like Wal-Mart and Target offered competition. Other toy retailers, such as the upscale toy stores FAO Schwartz and mall-based KB Toys, were forced into bankruptcy.

In contrast, the New Jersey company’s 218 Babies R Us stores, which sell infant clothing, bedding and furniture, are experiencing rapid growth and the division is expected to expand.

With nearly 700 toy stores throughout the United States and more than 600 in other countries, Toys R Us is seen by some analysts as being more valuable for its real estate than for its sales.

Many of the stores are located in high-traffic malls and other prime locations. Among the buyers are real estate firms––an indication of the interest in the store sites.

According to a CNN Money report, if the deal goes through, at least one-third of the company’s stores are expected to close, most likely those that are smaller stores, those in less visible locations and those needing renovation or with poor sales. Flagship stores of more than 100,000 square feet are expected to be retained. The Janss Mall store is 43,000 square feet.

The Toys R Us website lists 21 stores within a 50-mile radius of Thousand Oaks.

It’s common for rumors to circulate when a company is about to be purchased, according to Gary Wartik, economic development manager for the city of Thousand Oaks.

Toys R Us is among the top 75 sales-revenue producers in Thousand Oaks, added Wartik. If the store does close, he said, there shouldn’t be difficulty in finding another retailer to fill the Janss Marketplace space because the location is good and the city’s vacancy rate is a low 3 percent.

"Whenever a large retailer like that closes, it reduces choices to the retail shopper and reduces competition, which is never a good thing," Wartik said. "It’s hard to know how this one’s going to shake out."

In 1948, Charles Lazarus opened a baby furniture shop in Washington, D.C. At the request of customers he added toys to his merchandise. Ten years later, he opened his first all-toys supermarket. In 1978 Toys R Us went public, and today it’s an $11-billion business.

Oak Park resident Lena Tucker heard from a friend that the Thousand Oaks Toys R Us was closing. She took her son to shop at the store this past weekend.

"I wanted him to use his gift certificates just in case," Tucker said. "I asked an employee if the store was closing and he said no. Toys R Us is such an institution. I’ve been shopping there since I was a kid. It would be like McDonald’s closing."