The bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors.
The US arm of Toys R Us filed for chapter 11 bankruptcy protection on Monday, with debts amounting to $US5 billion ($6.3 billion) , reports Forbes.
In a statement, the company explained the application only applies to the United States and Canadian operations of the business, while a spokesperson for the company confirmed to Fairfax that the Australian stores are not affected by the proceedings.
The Companys operations outside of the U.S. and Canada, including its a…
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