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Toys R US Bankruptcy

223 Words1 Pages
According to New York Times, Toys R Us is hiring financial advisors to help deal with bankruptcy. The financial advisors have been hired from the law firm of Kirkand and Ellis as they try to help the company manage its four hundred million dollars of debt. The company is considering the options of filing bankruptcy. The law firm stated the debt was just a couple millions of dollars but steadily started to increase as the company went through cash and sales started to decline. One approach the company is taking to pay back the debt is increasing the price of toys around the holidays. This alone surely will not solve Toys R US problem, but the law firm says it’s a start. For years Toys R US has been in the main retailer in selling toys
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