In news that unfortunately shocks no one, KB Toys has filed for bankruptcy and plans to close all of its 460 stores.The mall-based chain, which filed for bankruptcy earlier this decade, isn’t even waiting for the holiday season to end. It is starting its liquidation sales immediately, according to a Reuters report.One thing we don’t understand about the situation is KB’s bankruptcy filing in which management states it has between $100 million and $500 million in assets. Isn’t that kind of a wide range?We thought most of this news would start after the holiday season, but it seems that KB couldn’t hold out. Any predictions of more mass closures before the holidays end?

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