Sources expect the company to file for Chapter 7 bankruptcy liquidation next week. Customers enter and exit the Toys“R”Us Times Square flagship store Dec. The 110,000 square foot toy store is scheduled to close Dec 30, 2015 after the toy chain declined to renew its lease. A mother and daughter shop for a Barbie at a Toys“R”Us Nov. Toys“R”Us, the nation's largest toy retailer, was accused by federal regulators Wednesday, of fixing prices by bullying manufacturers not to sell to discount competitors.
Regulators fined 10 investment firms a total of .5 million for promising positive write-ups on toystore chain Toys"R"Us in exchange for lucrative investment banking business.
Bain, KKR, and the executives they put in place to turn Toys around believed it would be relatively simple to get the retailer in good enough shape to launch a stock offering within three years and reap a healthy return on their investment.
They expected they could cut costs and boost sales with more efficient management and better marketing.
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