BBC NEWS
Toys 'R' Us files for bankruptcy protection in US (article)
Summary
In the US and Canada, Toys 'R' Us files for bankruptcy protection to restructure its debts.
However, the European firms, its operation in Australia, licensed stores, and a joint venture partnership in Asia are not included in the bankruptcy move.
The reason is that Toys 'R' Us has not responded effectively to new channels, increased competition, and new technology. It means that the company doesn't have ideas about web stores, aging problems, and internet games. Nowadays, people's buying habits were changing and in the big stores, even in the supermarkets, people are not visiting frequently. They seem to like convenient stores more.
Other US retailers have been struggling with falling sales and heavy losses also.
I think that the main problem is not its financial debts but their poor customer service so they should improve it.
Words in this story
bankruptcy / failure, collapse
debt holders
creditors
debts /dÉ›́ts/ silent b
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