A lot of Americans made an endless visit to Toys “R” Us as a child. This is where they all buy their favorite toys and made memories with their friends and family.
Unfortunately, the toy store we all love is likely to be gone soon. Last September, the retailer petitioned for Chapter 11 bankruptcy with an end goal to manage its $5 billion debt.
They are planning to fix things by patching up stores and activities. Although a Chapter 11 bankruptcy gives a company a moment to breathe and redesign.
It is necessary for the debtors’ management to show what they mean to redesign.
“I think that the major creditor group did not yet heard a convincing story, nor has a ‘white knight’ showed up.”Gregory Plotko, an accomplice in bankruptcy practice at Richards Kibbe and Orbe LLP.
In January, 180 stores would be close according to the vendor. According to some sources, Toys ‘R’ Us are preparing to sell the majority of its U.S. stores.
As somebody who adored heading off to this store as a kid, I’m sure that we will all gonna miss it. Well, that’s life. Let’s just cherish the memories we have in our favorite toy store.