Toys ‘R’ Us, the largest U.S. toy store chain filed for bankruptcy late Monday, but in Israel the local franchisee said on Tuesday that business would continue as usual.
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“The chain here is independent and is a franchisee of a Toys ‘R’ Us subsidiary, which is a profitable company,” said a source at the Israeli company, which is part of the Fishman Retail group. It has 53 stores and 1,000 employees operating under the Toys ‘R’ Us and Red Pirate brands.
The Chapter 11 filing is among the largest ever by a specialty retailer and is casting doubt over the future of the U.S. company’s 64,000 employees and nearly 1,600 stores, which remain open.