Toys R Us likely to file for bankruptcy this week

Kelly Massey
September 19, 2017

The Wall Street Journal stated that the company was considering filing for Chapter 11 protection in the US Bankruptcy Court.

There have been more than a dozen significant retail bankruptcies this year, but none for retailers as big as Toys "R" Us, which has more than 1,600 stores worldwide.

Toys "R" Us' suppliers, fearing that the retailer may be in trouble, are now tightening trade terms, including holding back on shipments unless they receive cash payments on delivery, the WSJ reported.

With multiple reports that Toys "R" Us could file for bankruptcy as soon as this week, many people are wondering what will happen to the toy chain. The potential bankruptcy is one option as it works to pay down more than $5 billion in debt.

The filing would allow Toys "R" Us to restructure $400 million in debt that comes due next year.

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Shares of Mattel closed at $14.87, down 6.2 percent for the day.

RIP all of our childhoods - the theatre of every 90s kid's dreams could be about to close forever as Toys "R" Us is reportedly set to file for bankruptcy.

Former Toys "R" Us executive Chetan Bhandari has agreed to leave Lazard's debt restructuring practice, where he works as a managing director, to rejoin the retailer as senior finance director, a Toys "R" Us spokeswoman said on Monday.

Shares in No. 2 USA toymaker Hasbro, which sells Nerf and Transformers and has outperformed Mattel this year, ended down 1.7 percent at $93.24. It is yet to respond to's request for comment.

Other reports by Guamnewswatch

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