Toys R Us Files for Bankruptcy Protection
Toys R Us says their stores will remain open as we approach the holiday season, even though the company filed for bankruptcy.
The filing was submitted late on Monday.
The company filed for Chapter 11 Bankruptcy protection to restructure its outstanding debt.
Toys R Us says that in order to continue to operate in the long-term they need to set up a sustainable capital structure – and this court proceedings will give them the relief to do so.
This filing only applies to the company’s operations in the U.S. and Canada.
The approximately 1600 stores will continue to operate as normal as we head into the holiday season.