Network Toys 'R' Us has declared bankruptcy

Фото: Depositphotos

Known toy network Toys 'R' Us applied for protection against bankruptcy, but said she would not close her stores and continue to accept gift cards, as well as keep the loyalty program, especially during the holiday season.

The company announced its decision to file for bankruptcy protection at the end of Monday, 18 September. So she asks to restructure 5’s long-term debt of billions of dollars because Toys 'R' Us struggling with unprecedented competition.

The retailer encouraged customers to continue shopping both online and in 1600 stores around the world.

“With the holiday season upon us, our physical and online stores are open to serve you, and our team members around the world are looking forward to putting smiles on the faces of children,” said Dave Brandon, chairman and CEO of the company.

Brandon also said that the loyalty program and gift card policies will not change. In addition, the return policy and warranty will also remain unchanged.

The US retail industry, with an annual turnover of around $ 5 trillion, has experienced a strong decline in the past few years. Since October, 2016, more than 100, thousands of retail workers have lost their jobs due to the closure of stores or the reduction in company spending.

Some analysts talk about the loss of retail trade, although there are those who believe that sellers just need to find a new way to communicate with customers and bring them information about the product, in particular, by developing online trading in addition to physical outlets.

Since the beginning of 2017, many retailers in the United States have announced the closure of stores, among them Sears, JC Penney, Payless Shoe Sourceand Ralph Loren flagship store in New York, a wave of store closures continues Macy's.

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