THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Toys R Us files for bankruptcy protection in the US and Caanda

US toy retailer Toys R Us has filed for bankruptcy protection as it struggles against heavy debt.

GENERAL MERCHANDISE

Toys R Us files for bankruptcy protection in the US and Caanda

In a statement, the retailer said around 1,600 Toys R Us and Babies R Us stores and ecommerce sites around the world will remain open for business as it implements a court-supervised process in the US and Canada that will allow the company to restructure its finances.

The retailer’s operations outside the US and Canada, including those in Europe and Australia and its licensed stores and joint venture partnership in Asia, are not part of the Chapter 11 filing and CCAA proceedings.

The company said it expects the process will enable it to restructure its outstanding debt.

Dave Brandon, chairman and chief executive of Toys R Us, said: "We are confident that we are taking the right steps to ensure that the iconic Toys R Us and Babies R Us brands live on for many generations.

"Our customers around the world can continue to count on an outstanding shopping experience and excellent service whenever, wherever and however they choose to shop with us. As the holiday season approaches, our global team members are ready to serve the millions of kids and families who will be shopping with us."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy