Toys “R” Us Files for Bankruptcy at $5 Billion in Debt

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(WOLO) – It’s not all fun and games for Toys “R” Us at the moment. The retailer is filing for bankruptcy protection.

In a statement released Monday (9/18), company officials say it will use the proceedings to deal with $5 billion worth of debt.

Despite the announcement, Toys “R” Us stores will stay open world-wide.