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Toys R Us Files for Bankruptcy, Plans to Close Stores

Posted September 19, 2017 by GottaDEAL Staff

Toys R Us filed for Chapter 11 bankruptcy protection today and announced plans to remake its image should a judge approve their plans to cut debts and reemerge from bankruptcy.

Toys R Us announced that they plan to close underperforming stores (no list was given) and transform others into "interactive spaces" with rooms that can be used for parties, product demos and other events. The company also says they will raise wages over the next 3 years.

While this news shouldn't affect their Black Friday plans for this year, it could very well be the beginning of the end for the longtime toy retailer. We'll have more coverage of Toys R Us' holiday plans in the coming weeks and months as the bankruptcy process becomes more clear.
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