Toys "R" Us filed for Chapter 11 bankruptcy protection in September 2017.
The retailer sought protection in the United States and Canada while carrying roughly $5 billion in long-term debt. It continued operating stores during the restructuring but later liquidated its U.S. operations.
The company faced competition from Walmart, Target, Amazon and other retailers. Its debt burden was also connected to a 2005 leveraged buyout, which left the business paying substantial interest while retail habits changed.
The U.S. stores closed in 2018, although the brand later returned through new ownership and retail partnerships. Toys "R" Us is distinct from KB Toys, another major toy chain that filed for bankruptcy in 2008.