NEW YORK — Both The Wall Street Journal and CNBC are citing sources that say Toys ‘R’ Us could file for bankruptcy.
If the company decides to file for Chapter 11, the reports are mixed on when the filing would happen.
The news comes as many retailers prepare for the holiday season, an especially crucial time for toy sellers.
Shares of industry leaders Hasbro and Mattel as well as smaller toy company Jakks Pacific all fell on Monday due to reports suggesting that Toys “R” Us is considering filing for bankruptcy.
Earnings reports from Toys ‘R’ Us reported a net operating loss of $164 million.