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Toys 'R' Us Files for Chapter 11 Bankruptcy

Photo: Mike Mozart / CC BY 2.0.

September 19, 2017 10:23 AM

(ABC 6 News) -- Not many kids yearn to be a Toys 'R' Us kid these days.

Toys 'R' Us is filing for Chapter 11 bankruptcy protection.  Increased competition from online retailers, such as Amazon, is cited as a cause of the company's financial troubles.

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The New Jersey based company is looking to restructure some of its debt, in time to gear up for the holiday shopping season.

Toys 'R' Us has nearly 16-hundred stores and 64-thousand employees across the globe. 


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