Following our report last week of Toys R Us considering Chapter 11 bankruptcy, we now have confirmation of that decision this evening:
Toys“R”Us, Inc. (“the Company”) today announced that the Company and certain of its U.S. subsidiaries and its Canadian subsidiary have 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.
According to the press release, all stores – including their online presence and customer loyalty programs – will continue normal operations during this restructuring. In light of this news, will you tune in to the second quarter earnings call on 9/26? How might this affect the future of Transformers toys sold through Toys R Us? Read the entire release here, then join the discussion on the 2005 boards!