Toys 'R' Us said to be weighing bankruptcy as an option

Wayne-based retailer Toys "R" Us has hired a law firm that specializes in corporate restructurings to help it address looming debt payments.

CNBC reported Wednesday that the toy seller, which has over 800 Toys "R" Us and Babies "R" Us stores in the United States, was exploring a possible bankruptcy filing. The report caused an immediate flurry of "say it isn't so Toys" and "where will I buy my toys?" comments on Twitter.

The company has hired the law firm Kirkland & Ellis to help it restructure $400 million in debt that comes due in 2018. If it can't refinance the debt, bankruptcy might be an option, but Toys has successfully refinanced large debt payments in the past.

The company issued a statement Wednesday afternoon that implied that a bankruptcy restructuring is one of the options being considered. "Toys "R" Us is evaluating a range of alternatives to address our 2018 debt maturities, which may include the possibility of obtaining additional financing," the statement said.

Read more: http://www.mycentraljersey.com/story/money/2017/09/06/toys-r-us-calls-bankruptcy-report-inflammatory/638734001/