How $5 billion of debt caught up with Toys ‘R’ Us

The largest U.S. toy retailer’s decision to file for Chapter 11 bankruptcy protection on Monday took investors by surprise, given that the company faced no imminent debt maturities and had managed to overcome financial stress in the past by securing concessions from its creditors.But the company’s ability to kick the can down the road had been exhausted. The bankruptcy filing was the culmin…

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