Toys “R” Us Receives Interim Chapter 11 Bankruptcy Protection
After weeks of speculation over the collapse of Toys “R” Us, the toy giant finally filed for Chapter 11 bankruptcy protection on 18th September 2017, and have received interim approval. At a hearing on 19th September 2017, the company will continue normal business operations throughout the financial restructuring process. The restructuring process includes a $2.2 billion in debtor-in-possession (“DIP”) financing which will be available to U.S., Canadian and international entities.
” Toys “R” Us Receives Chapter 11 Bankruptcy Protection “
On September 18, 2017, Toys “R” Us (U.S. subsidiaries & Canadian subsidiary) voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond, VA.
About Toys “R” Us
Toys “R” Us, Inc. is relentlessly striving to be the best toy and baby retail company for the world. It has solidified its position by offering a differentiated shopping experience through its family of brands. Today, merchandise is sold in 875 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 765 international stores and more than 245 licensed stores in 37 countries and jurisdictions. With e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection. In addition, the company is committed to serving its communities as a caring and reputable neighbor.
Visit: Toys “R” Us
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