It’s a sad time for any of us who wanted to remain a ‘”Toys ‘R’ Us Kid”. The longtime retailer of children’s toys filed for Chapter 11 Bankruptcy on Monday. According to CNBC, “Chapter 11 protection allows the company to restructure $400 million in debt due in 2018, another $1.7 billion due in 2019, and then renegotiate the rest.”
The toy chain has continued to struggle in the baby and toy market with online retailers taking over; online retailers have knocked out of many brick-and-mortar chains in the toy and baby space. The convenience of online ordering has continued to improve with technology while leaving the aisles of stores like Toys R’ Us empty.
For more info on the bankruptcy of Toys R' Us, you can read more at MySA.com.