The Last Days Of Toys R Us
March 18, 2018 - 7:30pm
Retailer Toys R Us has been battling problems for a while, and those now appear to be coming to a head. The game giant, once thought everlasting, has recently announced they will close all 800 of their US stores. The toy and game superstore declared bankruptcy six months ago, and despite efforts to reduce their sizable debt, Geoffrey the Giraffe's home will soon be no more. Toys R Us currently owes $7.9 billion against their assets of $6.6 billion, mostly owed to Bank of New York, Mattel and Hasbro, although the list of creditors includes 100,000 entities. The Canadian arm of Toys R Us is in negotiations to be sold to a group of toymakers lead by Isaac Larian, chief executive of MGA Entertainment. You can read the full article from the Washington Post here.
