Toy retailer Toys R Us will be converting its Chapter 11 case into a Chapter 7 case after it has been unable to secure funding to allow it to restructure.
Toymaker Hasbro, Inc. is nervous regarding holiday sales following Toys’R’Us’ bankruptcy. The company is forecasting that the major retailer’s bankruptcy will weaken holiday sales.
Toys R Us has filed for chapter 11 bankruptcy protection. Toys R Us Filed for Chapter 11 Bankruptcy Wayne, New Jersey-based toy retailer Toys R Us recently announced it will be filing for Chapter 11 bankruptcy protection.