TOYS “R” US CLOSING AFTER 70 YEARS

Toys “R” Us, the American retail chain set up in 1948, is seeking bankruptcy court’s approval to shut down all its U. S. stores and liquidate inventories. The shuttering of nearly 800 stores means more than 30,000 employees will lose their jobs. It is also closing its U. K. stores. The company filed for bankruptcy in September 2017, hoping to shed nearly $ 8 billion in debt but could not effect a turnaround.