Toys 'R' Us officially files for bankruptcy

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LAREDO, Texas (KGNS) - Toys ‘R’ Us has filed for chapter 11 bankruptcy protection ahead of the crucial holiday shopping season.

The toy retailer says it’s voluntarily seeking relief while continuing with normal business operations.

The company emphasizes that its approximately 1600 Toys ‘R’ Us AND Babies ‘R’ Us locations around the world will remain open ad that it will continue to sell merchandise.

The company says its Canadian subsidiary is seeking similar protection through a Canadian court.