After much speculation and to the disbelief of Toys “R” Us kids everywhere, the largest toy store chain in the U.S. and home of Geoffrey the Giraffe officially filed for bankruptcy late Monday in Richmond, Virginia.
The Chapter 11 case for TRU-SVC Inc., a holding company for Toys “R” Us Inc., marks the latest casualty in a string of struggling brick-and-mortar retailers. The filing by Toys “R” Us comes nearly three months after the Wayne, New Jersey-based company retained Kirkland & Ellis to help it restructure nearly $5 billion in debt.
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