Business
Toys ‘R’ Us Will Live Because Mattel and Hasbro Can’t Let It Die
- Manufacturers prop up last remaining single-category stores
- Offering pledges of support to counter Amazon and Wal-Mart
Toys 'R' Us Seeks Bankruptcy Protection as Debt Mounts
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Rest easy, kids. Toys “R” Us Inc. isn’t going anywhere, at least not if the makers of Barbie and Transformers have their way.
The toy chain filed for bankruptcy-court protection Monday night, another in a string of specialty retailers felled by Wal-Mart Stores Inc., Amazon.com Inc. and the rest of the online onslaught. Toys “R” Us had been hobbled by more than $5 billion in debt, which required over $400 million a year to service.