It could be the beginning of the end for Toys ‘R’ Us.
With the holiday seasoning looming, the major toy store chain could file for bankruptcy as early as this week, CNBC reports.
The potential bankruptcy is not definite and both the company’s plans to file and the timing could change, sources tell the cable network.
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But Toys ‘R’ Us ownership has hired restructuring lawyers at the Chicago-based firm Kirkland & Ellis to help address $400 million in debt due in 2018.
A bankruptcy does not necessarily mean Toys ‘R’ Us will close stores, CNBC says. The chain’s stores, which function as showrooms for major toymakers, could operate through the bankruptcy.
