Its woes began in the 1990s, as big-box stores grew both in number and in size.
Major retailers including Macy's and Sears shut down hundreds of stores due to the competition with discounters like Wal-Mart and Amazon.
When Toys "R" Us filed for bankruptcy protection on Monday, the easy culprit to blame was Amazon. "Unfortunately, Toys "R" Us has not responded effectively to these challenges", said Neil Saunders, managing director of GlobalData Retail.
Yet, the company, which operates about 1,600 stores globally, will likely survive because manufacturers such as Mattel Inc., Hasbro Inc., and closely held MGA Entertainment Inc. need the last remaining toy chain.
He said: "Alarm bells will have been ringing for some time but it took until May this year for an online store revamp to take effect and it is hard to see how Toys'R'Us could address the structural challenges it faced without reducing it's store footprint and significantly changing its proposition".
"We have financing commitments to ensure normal operations throughout the CCAA proceedings", said Teed-Murch.
Brandon expressed confidence that bankruptcy protection "will provide us with greater financial flexibility to invest in our business, continue to improve the customer experience in our physical stores and online, and strengthen our competitive position in an increasingly challenging and rapidly changing retail marketplace worldwide".
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More than a dozen significant retail chains have filed for bankruptcy this year. Many expected a bankruptcy, but the filing, just ahead of the vital holiday selling season, underlines how squeezed the firm has become. In 2000, back when Amazon was still trying to move beyond selling books, Toys "R" Us joined with the e-commerce giant to manage online toy sales.
Toys "R" Us Philippines is managed and operated by Robinsons Toys Inc, a wholly-owned subsidiary of Robinsons Retail Holdings, Inc, according to a clarificatory statement issued to the media.
Is it because toys aren't selling anymore?Earlier this month, Lego said its revenue for the first half of this year fell 5 percent from a year earlier - its first revenue decline in 13 years.
"We are confident that this process will enable us to leverage Toys " R " Us' existing strengths to succeed", continued Teed-Murch. The result is that many former Toys "R" Us kids have no interest in being Toys "R" Us parents.
Second, Toys "R" Us has not helped itself. Toys " R " Us, Inc.is headquartered in Wayne, NJ, and has almost 65,000 employees worldwide. "Total toy exports from China have been growing every year and growth remains strong so we don't see it as an industry problem", he said.
In the United Kingdom so far this year, according to data from the Centre for Retail Research, companies in administration so far this year has already exceeded the levels seen in 2015 and 2016, though the number of stores and employees affected has been less, but there has been a consistent pattern of a changing retail landscape since 2008.