Remember being a kid and getting so excited when your parents would bring you to Toys ‘R’ Us?!
Well Toys ‘R’ Us is in trouble. They just filed for bankruptcy protection in the US and plan to do the same in Canada.
They’ve filed documents late Monday with the U.S. Bankruptcy Court in Richmond, Virginia.
They currently owe $400 million. A debt that will be due in 2018. The chain secured $3 billion (US) in financing to stay open while it works on getting out of debt. If you shop at Toys ‘R’ Us often enough, you may notice vendors have cut back on shipments.
Stores didn’t exactly have an outstanding 2016 holiday season as shoppers move more to online retailers.
Meanwhile, twitter is freaking out… as usual.
Thoughts go out to the staff at Toys R Us. Sad to hear it'll be going into bankruptcy. When I was a kid it was the best place to get toys— MR SUPERPIDGE (@superpidge) September 19, 2017
first blockbuster and now toys r us, just burn my childhood down to the ground— r (@Ren2Gunk) September 18, 2017
Toys R Us about to go bankrupt...Amazon is literally killing everything lol— Poochie 🌯 (@ItsVee_) September 18, 2017