The move apparently will help the company to restructure its debt, providing Toys “R” Us the financial flexibility it wants to invest in its business to continue operations.
This, in turn, would allow the retailer to regroup and possibly try other means to rebrand itself to cope with changes in the retailing industry.
Many brick-and-mortar retail stores have shut down due to poor sales as more consumers turn to various online-based retailers like Amazon.
Toys “R” Us may file for bankruptcy as early as this week.