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Toys R Us — crushed by debt — files for bankruptcy


The Wayne, N.J.-based company was for decades the country’s preeminent toy retailer, with a towering flagship in New York’s Times Square and a ubiquitous icon, Geoffrey the Giraffe.


The filing — just the latest in a string of high-profile bankruptcies this year — comes on the heels of the all-important Holiday shopping season, which can account for half of retailers’ annual sales.


The Toys R Us Bankruptcy “brings to a close a turbulent chapter in the iconic company’s history,” Neil Saunders, managing director of GlobalData Retail, said in an email.


At the same time, toys have become less of a priority for many children and teenagers, who would rather buy smartphones and tablets — or apps and games for those devices — than traditional playthings.


Two in 3 young teenagers now have their own tablet or smartphone, and the majority of them said spending on those devices has become an important consideration, according to GlobalData Retail.




READ MORE (Washington Post)


  • Toys 'R' Us files for bankruptcy protection in USBBC News
  • Ahead Of The Holiday Season, Toys R Us Files For Bankruptcy ProtectionNPR
  • Toys 'R' Us Files for Bankruptcy, But Keeps Stores OpenBillboard
  • Toys 'R' Us files for bankruptcy ahead of holiday seasonAOL
  • Toys 'R' Us collapses into bankruptcymySanAntonio.com
  • Toys R Us files for bankruptcy protection as the holiday shopping season nearsLos Angeles Times
  • Rocked by Bankruptcy, Toy Industry Scrambles to Save the Holiday SeasonBloomberg
  • Five Things You Need to Know to Start Your DayBloomberg
  • Toys 'R' Us Shows Real Estate Can't Save RetailersBloomberg


This post first appeared on The 5th News, please read the originial post: here

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Toys R Us — crushed by debt — files for bankruptcy

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