Laid low: Toys‘r’us files for protection in US after struggling with debts

Retail giant Toys‘r’us has filed for bankruptcy protection in the US and Canada after struggling amid mammoth debts and online competition. But the group, which has some 1,600 stores worldwide and 64,000 employees, said its stores outside of the US and Canada – including the UK and Europe, as well as about 255 licensed stores and a joint venture in Asia – were not included in the so-called Chapter 11 filing. It said its stores would operate “as usual” while it looks to restructure a $5.6 billion (£3.6bn) debt mountain.