Tuesday, 19 September 2017

Toys 'R' Us files for bankruptcy protection in US and Canada

Toys 'R' Us has filed for bankruptcy protection in the US and Canada as it attempts to restructure its debts.

The retailer was once a dominant player in the US toy market, but has struggled against larger rivals such as Amazon, Walmart and Target.

The move casts a shadow over the future of the company's nearly 1,600 stores and 64,000 employees.

The firm's operations in Australia and Europe and a joint venture in Asia are not part of the bankruptcy proceedings.

BBC    News.

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