Toys ‘R’ Us Files for Bankruptcy, Crippled by Competition and Debt<br />In a statement on Monday night, Toys “R” Us said the filing would help the company invest in long-term growth<br />and “fuel its aspirations to bring play to kids everywhere and be a best friend to parents<br />Toys “R” Us, one of the world’s largest toy store chains, has filed for bankruptcy protection,<br />becoming the latest casualty of the pressures facing brick-and-mortar retailers.<br />The company made the Chapter 11 bankruptcy filing late Monday night in federal court in Richmond, Va., acknowledging<br />that it needed to revamp its long-term debt totaling more than $5 billion.<br />The private equity firms Kohlberg Kravis Roberts and Bain Capital, as well as the real estate firm<br />Vornado Realty Trust, purchased the company in a leveraged buyout for about $6 billion in 2005.
