Toys R Us – Is There a “Miracle”?
Toy R Us filed for Chapter 11 bankruptcy protection on 9/18.
Yet, it plans to hire 12,500 more employees for upcoming holiday season. Toy R Us said they received $3.1 billion financing to cover all the cost for the coming holiday season.
Usually the end of year holiday season counts for 70% of annual toy sales. It seems that Toy R Us bet its feature on upcoming holiday season. A successful season could possibly save this 69 years old toy retail giant and relax its financial burden.
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