As anticipated, Toys R Us ultimately filing for bankruptcy.
Toys R Us files for bankruptcy
Ask young American parents about Toys R Us and they are likely to be able to sing a jingle from their childhood: “I don’t wanna grow up, ’cause maybe if I did, I couldn’t be a Toys R Us kid”. For children of the 1980s, Toys R Us was a mecca at the strip mall, an awe-inspiring array of dolls, trucks, board games, bikes, art supplies and much more. Many of them noticed when on September 18th, the chain filed for bankruptcy.
Dave Brandon, the company’s chief executive, emphasized that shops would carry on operating as usual and claimed that Toys R Us was at the start of a new, brighter era. “These are the right steps to ensure that the iconic Toys R Us and Babies R Us brands live on for many generations,” he declared. A Chapter 11 bankruptcy, many analysts agree, is a sensible way to deal with the chain’s $5bn of long-term debt. So Toys “R” Us is not dead. But its future is hardly certain.
