Have you been affected by the current layoffs, terminations, firing, or restructuring of Toys “R” Us? If so comment below and let the community know what is going on inside the organization.
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About Toys “R” Us:
Toys “R” Us, Inc. is an American toy and juvenile-products retailer founded in 1948 and headquartered in Wayne, New Jersey, in the New York City metropolitan area. Founded by Charles P. Lazarus in its modern incarnation in 1957, Toys “R” Us traces its origins to Lazarus’ children’s furniture store, which he started in 1948. He added toys to his offering, and eventually shifted his focus. The company has been in the toy business for more than 65 years and operates around 800 stores in the United States and around 800 globally.
Toys “R” Us experienced expansion as a chain, becoming predominant in its niche field of toy retail. Represented by cartoon mascot Geoffrey the Giraffe from 1969, Toys “R” Us eventually branched out into launching the stores Babies “R” Us and the now-defunct Kids “R” Us.
The company filed for Chapter 11 bankruptcy protection in the U.S. on September 18, 2017, and has also filed for bankruptcy protection in Canada (see Companies’ Creditors Arrangement Act). They have stated their stores will continue to operate. Operations in Europe and Australia, licensed stores and joint venture partnership in Asia, which are separate entities, are not part of the Chapter 11 filing.