Toys R Us Is Reportedly Filing for Bankruptcy

That pang you felt in your heart was not physical nor even, strictly speaking, emotional. No, this was a deeper, purer pain—a knife into the gut of your childhood, and whatever dreams you might have held of revisiting it one day. Yes, Toys R Us is reportedly filing for Chapter 11 bankruptcy in hopes of pushing against the stifling debt its built up ever since a big buyout over 10 years ago.

Thus, the toy retail giant is going the way of your old Barbie dolls, toy cars, action figures, child-sized cheerleader pom-poms and trading cards—off to the dustbin of history, where it will be warmed by memory and nostalgia.

Unlike your old toys, Toys R Us could still use the bankruptcy filing to restructure into a smaller organization, better equipped to compete with Amazon and its ilk. Via Bloomberg:

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Filing for bankruptcy would allow Toys “R” Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys “R” Us might not be able to pay its bills.

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Cheer up, gang. We’ll get through it.

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