WAYNE, NEW JERSEY (ALBOENEWS) — Toys ‘R’ Us has filed for bankruptcy today, after speculation earlier in the day that the filing would happen sooner rather than later, per Reuters.
The toy store saw good popularity and sales before the emergence of online shopping. In the filing, they claim that they will keep open many of their stores, while trying to restructure the company to deal with the new-age demands of online shopping.
For the latest breaking news alerts, sign up for the AlBoeNEWS Breaking News Text Alert service here.[wordads]