Toys R Us announced on Monday, September 18th, that it had filed for Chapter 11 bankruptcy protection. This move is intended to help the New Jersey-based toy company shed debt incurred from its $7.5 billion acquisition by Bain Capital Partners, KKR & Co, and Vornado Realty Trust in 2005.
According to Statista, Amazon recorded the highest sales of toys and dolls in the US, reaching $2.16 billion. Amazon is one of the world's largest online retailers. Walmart followed with $1.29 billion in sales. Toys R Us ranked third with $912 million. The bankruptcy of Toys R Us indicates that the rise of online sales in the digital age has claimed a victim among conventional retailers.
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