Retailer Toys “R” Us could be on the verge of filing for bankruptcy protection, according to numerous media reports.
The toy and baby goods store has struggled to compete with online retailer Amazon and other ecommerce sites. Reuters has revealed the company could file in a matter of weeks as it faces tighter terms from suppliers leading up to the lucrative Christmas season.
Sources reveal nervous vendors are seeking stricter repayment terms amid fears Toys “R” Us could file for bankruptcy, which are adding to the retail company’s financial woes.
Toys “R” Us has more than 1,600 stores across the globe. The Wall Street Journal is reporting the company is considering filing for Chapter 11 bankruptcy protection and with debts of around $5 billion it would be the biggest bankruptcy filing to take place this year.