<p>Things aren&#8217;t looking too good for Toys &#8216;R&#8217; Us as multiple reports say it has filed for bankruptcy protection in both the US and Canada. The once dominant toy company has nearly 1,600 stores and 64,000 employees at stake &#8212; but we hear the debt restructure is necessary.</p>
<p>European, Australian, and Asian locations reportedly will not be affected by the companies restructure.</p>
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<p>The firm&#8217;s European operations are not part of the bankruptcy proceedings and Toys R Us says it does not expect any immediate impact on its UK stores.</p>
<p>Toys R Us&#8217;s operations in Australia, about 255 licensed stores and a joint venture partnership in Asia are also not included in the bankruptcy move.</p>
<p>As you can imagine, the advancing technology age has been shifting the game, forcing companies to keep up. Which is why Toy &#8216;R&#8217; Us says they are counting on online sales to &#8220;secure its future.&#8221;</p>
<p>Neil Saunders, managing director of GlobalData Retail says:</p>
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<p>&#8220;The past decade has seen a dramatic change in the domestic toy market with new channels, increased competition, and new technology all having a deleterious impact on the sector and traditional toy stores. Unfortunately, Toys &#8216;R&#8217; Us has not responded effectively to these challenges.&#8221;</p>
<p>This is truly the ending of an era. What are your thoughts Roommates?</p>
<p>Source: BBC,http://www.bbc.com/news/business-41316205</p>
<p>TSR STAFF: Chantel Kelli! @_popchanny!</p>
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