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It’s a bad time for all businesses and one company that many would have never thought to be in trouble financially is filing for Bankruptcy protection. Toys ‘R’ Us, the toy retailer said they are struggling with $5 Billion Dollars in Debt.
Toys ‘R’ Us said they are struggling with a poor economy, and the heavy competition online, and because of that, they will restructure their debt and work with their lenders to continue to operate as usual.
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The move comes at a critical time leading into the holiday season that is crucial to retailers’ bottom lines. The company said it was “well stocked as we prepare for the holiday season and are excited about all of our upcoming in-store events.”
