25 September 2017 - Janet Bird
It will be business as usual for the UK's Toys R Us stores after the US based retailer filed for bankruptcy protection.
So says the toy giant, which insists it will continue to operate as usual while it undertakes the process of restructuring its debt.
The retailer has filed for Chapter 11 bankruptcy protection for its key US and Canada markets, but has stressed this will not cover its operations elsewhere - including the UK, where it has 81 stores.
Toys R Us, which has 1,600 stores worldwide and employs 64,000 people, amassed a staggering $5.6 billion (around £3.6 billion) debt bill over recent years.
Such is its importance to toy manufacturers, however, that over half of its enormous debt burden (more than $3 billion) has been secured by lenders to ensure its stores are supplied and ready for the traditional Christmas rush to buy toys.
This is absolutely critical for the retailer, which makes 40 percent of its sales during the three months running up to Christmas.