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.

Colbert takes aim at Trump in Emmys opening monologue
Spicer wheeled onto the stage behind a mobile podium and joked about the Emmys having its biggest audience ever. " Period . The bit subtly slammed the Trump administration's claims about the size of the crowd at the inauguration in January.

Arsenal fans to have memberships revoked after Koln trouble
If you are using skysports.com you can comment below to get involved in the debate, but please adhere to our House Rules . They have lost only one player, [Alex] Oxlade-Chamberlain, and they have kept all of their players.

5 steps you should take to protect yourself
This does not impact your ability to use your credit cards, but it does prevent others from opening an account in your name. To be effective, a freeze must be set up with all three credit bureaus - Equifax , Transunion , and Experian .

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 metro.co.uk's request for comment.

Other reports by Guamnewswatch

Discuss This Article

FOLLOW OUR NEWSPAPER