NEW YORK – One of the last national toy retailers could be soon filing for bankruptcy.
Both the Wall Street Journal and CNBC are citing sources that claim that Toys “R” Us could file as soon as the next few weeks, short of the critical holiday shopping season.
Earnings reports show that Toy “R” US has been losing money by the millions. In the first quarter of 2017, the retailer reported a net operating loss of $164 million.
The chain has more than 800 locations across the country.
If filed, Toys “R” Us would take the first step on a path similar to other former competitors that it eventually acquirred. KB Toys went through a second bankruptcy before its name was sold to Toys “R” US in 2009. Months later, FAO Schwarz was also absorbed after a second bankruptcy.WHAT OTHERS ARE CLICKING ON-
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