Toys "R" Us Could be Filing for Bankruptcy
Toy "R" Us may file for bankruptcy before the busy holiday shopping season, and it may even be within the next few weeks, as first reported by The Wall Street Journal.
CNBC reports the toy company has hired a law firm to help restructure its $400 million in debt, which is due in 2018. According to the Wall Street Journal, Toys R Us can’t keep up with online sales as online retailers drive down prices and store visits.
Bloomberg reports some vendors are cutting shipments to the company.
Toys "R" Us makes about 40 percent of its sales during the holiday season.