"As the Holiday season ramps up, our physical and web stores are open for business, and our team members around the world look forward to continuing to put huge smiles on children's faces."
The Wall Street Journal reports Toys 'R' Us is a classic example of a "category killer," a huge specialty store with low prices that squeezed independent shops.
"It swallowed up several rivals that have themselves filed for Bankruptcy protection, including FAO Schwarz and Kay Bee Toys, a mall-based chain that liquidated hundreds of stores before it was sold.
It was late to develop and expand its e-commerce business and placed big bets on licensed toys for "Star Wars" and Lego movies that missed expectations."
Marshal Cohen, chief retail analyst for The NPD Group , told Yuki that brick-and-mortar stores aren't just competing with rivals; their sales are being cannibalized by their own online operations, where profit margins are thinner.
- Toys 'R' Us files for bankruptcy amid struggle to pay down billions in debtWashington Post
- Toys "R" Us files for bankruptcy as holiday season approachesCBS News
- Toys R Us files for bankruptcyUSA TODAY
- Toys R Us files for Chapter 11 bankruptcyFlorida Times-Union
- Toys 'R' Us files for bankruptcyCNNMoney
- Toys 'R' Us files for bankruptcy, crushed by online competitionThe Denver Post
- Toys 'R' Us Files for Bankruptcy, Crippled by Competition and DebtNew York Times
- Toys 'R' Us files for bankruptcy ahead of holiday seasonYahoo Finance
- Toys 'R Us files for bankruptcyAxios