The world’s largest toy store chain said it had filed for Chapter 11 to restructure its debts and work out a sustainable path for its finances that would allow it to invest in long-term growth.
The New Jersey-based company, which employs 64,000, said the vast majority of its 1,600 stores around the world were profitable, adding that its businesses outside North America, including the UK, were not affected.
It was not very often that I was allowed to go to Toys-R-Us as a child; we did not have any money for things like toys. When my mom and dad finally knuckled under and got a TV (black and white, 13") when I was 13, the Toys-R-Us commercials were the highlights of the fall and winter.
Amazon, Wallmart and Gamestop finally kicked them down. I did not realize that they used to be the #2 retailer of computer software.