Toys 'R' Us Files for Bankruptcy

We have a number of exciting initiatives underway including improvements to our stores and loyalty program, and we are leveraging technology to bring our physical stores to life.

The Canadian retailer said it's opening its 56th store in Orleans, Ont. Tuesday and plans to have locations open later this year in Sudbury, Ont., Langford, B.C., Fredericton, and Toronto.

Toys R Us has filed for bankruptcy protection, securing $3 billion in financing in order to stay open and continue operations while it restructures its outstanding debt.

However, Toys "R" Us (Asia) stressed that it is a separate legal entity and is financially independent from all other Toys "R" Us operating companies around the world.

Three Things We Learnt from Liverpool Vs Sevilla
The last game was not ideal but that is how it is after a long break but it helped him, and helped us. But Sevilla had the final say, ensuring the two sides shared the spoils at the end of the game.

The toy company has not commented on claims that it is preparing for a potential bankruptcy filing before Christmas.

Ten days later, almost all the company's vendors refused to ship products without cash in advance, forcing Toys "R" Us to scramble to raise $1 billion for its nervous suppliers, according to court filings.

Dave Brandon the chairman and chief executive, said: "Today marks the dawn of a new era at Toys R Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way".

The company has been saddled with a huge amount of debt since buyout firms KKR and Bain Capital took it private for $6.6bn in 2005. The Toys R Us loyalty program also remains in effect and the store will continue to accept all returns and honor all warranties.

Reports of shooting at Dartmouth-Hitchcock in Lebanon
As quoted by AP, Dartmouth-Hitchcock Medical Center spokesman Mike Barwell said that the hospital is "currently locked down". Police say that they have arrested an active shooter that forced New Hampshire's biggest hospital to go into lockdown.

The retailer said that it has already received commitments from some lenders, which would facility several brand improvements, after the restructuring of the debt.

Toys "R" Us is one of the major players during the holiday season which kick off during Black Friday.

Anyway, we hoped many kids would get to experience the trips to Toys "R" Us as they grow up, just as we had dreamed of taking our kids to the Woolworths Pick and Mix aisle.

Thousands Evacuated in Russia Due to 'Telephone Terror'
Neither the emergency services in Moscow nor the police could immediately confirm the incidents to AFP. Three shopping malls in Moscow also were cleared after calls reporting bombs, Tass reported.

  • Kelly Blake