Wednesday 20 September 2017

Toys’R’Us Files For Bankruptcy In US

Toys’R’Us filed for Chapter 11 bankruptcy in the USA and Canada this week, while their Australian operations are not part of the application.
Filing for bankruptcy is not uncommon on the US retail scene particularly for businesses looking to restructure their debt. Toys’R’Us has a $400 million debt due in 2018 and that needs attention.

Australia is one of their bigger markets and a local spokesperson said “"Our stores are open and will continue to provide Toys"R"Us Australian customers with our signature fantastic service,".  Toys’R’Us planned to open 4 new stores in Australia this year.

NOTE: The Harvard Business Review has examined the Toys'R'Us dilemma and here is the link to their article yesterday -

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