The popular ‘Toys ‘R’ Us’ chain has filed for bankruptcy in its native USA, but says its subsidiaries abroad will not be affected. In fact, it says it has plans to improve its services in Spain and elsewhere.
The company has major debts, including with two of the biggest toy manufacturers in the world, Mettel, to whom it owes over 135 million dollars, and Hasbro, with a debt of 59 million. However, it says it has come to an agreement with banks to pay off some of the debt, and insists that customers outside the USA and Canada will not be affected. “We are convinced we are taking the right steps to ensure that ‘Toys ‘R’ Us’ and ‘Babies ‘R’ Us’ will continue for many generations,” says CEO Dave Brandon.
In Spain, the CCOO union says employees have not been notified of the situation, and it will be asking for a meeting with the management in Madrid to clarify matters.