This is not the type of news we like to report but it looks like Toys R Us is hitting some hard times. Toys R Us is exploring Bankruptcy options and as someone who lived through the KB Toys destruction, I do wonder if they can pull through. Some might not know but the same capital group that owned KB owns Toys R Us. This is what we know:
“Toys R Us has hired a law firm to help restructure its roughly $400 million in debt due in 2018, a move that could include the marquee toy store filing for bankruptcy protection, sources familiar with the situation said Wednesday.
Addressing the retailer’s debt load prior to the crucial holiday season could give its major vendors such as Mattel and Hasbro clarity into the company’s long-term viability to help ensure the toymakers continue to stock its shelves throughout the holidays.
Toys R Us has hired restructuring lawyers at Kirkland & Ellis to help address the looming payments, the people said.”
Check out the full story here: Toys R Us hires law firm as it explores possible bankruptcy filing