gregjrichards
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"Toys R Us Inc., which has struggled to lift its fortunes since a buyout loaded the retailer with debt more than a decade ago, is preparing a bankruptcy filing as soon as today, according to people familiar with the situation.
The Chapter 11 reorganization of Americas largest toy chain would deal another blow to a brick-and-mortar industry thats already reeling from store closures, sluggish mall traffic and the threat of Amazon.com Inc.
Filing for bankruptcy would allow Toys R Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys R Us might not be able to pay its bills."
https://www.bloomberg.com/news/arti...id-to-plan-bankruptcy-filing-as-soon-as-today
This news is very sad it is one of the few toy stores left. I feel very sorry for the staff who must be worried about their jobs.
The Chapter 11 reorganization of Americas largest toy chain would deal another blow to a brick-and-mortar industry thats already reeling from store closures, sluggish mall traffic and the threat of Amazon.com Inc.
Filing for bankruptcy would allow Toys R Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys R Us might not be able to pay its bills."
https://www.bloomberg.com/news/arti...id-to-plan-bankruptcy-filing-as-soon-as-today
This news is very sad it is one of the few toy stores left. I feel very sorry for the staff who must be worried about their jobs.