Toys “R” Us Files For Bankruptcy

Toys “R” Us is struggling financially and as a result they have filed  for Chapter 11 bankruptcy protection in the U.S and will also file in Canada.  The giant toy store chain says they have $5 billion in long-term debt and they hope by restructuring the outstanding debt it will set the stage for long-term growth. The stores will remain open as they venture through the bankruptcy procedures.

 

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