Toys R Us Files Chapter 11 Bankruptcy, Outlines Strategy

"Amid the company's announced filing of Chapter 11 bankruptcy protection in federal court Monday, Toys R Us Inc.'s stores remain open. The New Jersey-based retailer's approximately 1,600 Toys R Us and Babies R Us stores around the world, 'the vast majority of which are profitable,' are open for business, the company said.

...Toys R Us had a $400 million debt payment due next year and was "burning through cash," the Times reported, and hired law firm Kirkland & Ellis to devise a strategy moving forward."

To read the full text of this article, please click here.

This article appeared in its entirety in the September 20, 2017 edition of Albany Patch.