Toys R Us has been weighed down by debt since it was taken private in a leverage buyout in 2005 Alan Diaz/APToys R Us, America’s largest toy store chain, has filed for Chapter 11 bankruptcy protection. The move had been rumoured for days as concerns grew about the retailer’s struggle with falling sales, increased online competition and too much debt. Dave Brandon, chairman and chief executive, said: “Today marks the dawn of a new era at Toys R Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way.”He said that the filing allowed the company to work with its debtholders and creditors to restructure the $5 billion of long-term debt on its balance sheet — the result of a $6.6 billion leveraged buyout in 2005 led by KKR and Bain Capital. “We expect…

Source: The Times September 19, 2017 08:03 UTC