What Does Bankruptcy Mean For Toms River’s Toys R Us?
With news out today that Toys "R" Us could be on the cusp of filing for bankruptcy, many may be wondering what that could mean for Ocean County's location in Toms River.
While it's not necessarily good news for the long term prospects of the store, chapter 11 is better news than chapter 7 bankruptcy.
A chapter 11 bankruptcy allows a business to restructure its debt in an effort to hold off closing for good. Chapter 7 bankruptcy is, well, the end of the line.
So what does it mean for the Toms River location on Hooper Avenue?
Well, it doesn't necessarily mean that it's closing.
There have been retailers who have emerged from a successful chapter 11 debt restructuring (PacSun and Macy's are two examples), while others floundered after the fact and ended up shuttering in the end (see RadioShack).
So, basically, it remains to be seen.
While the company may need to close some locations to complete the restructuring process successfully, we won't know that for quite some time.
We will of course keep you updated on what it will mean for us here in Ocean County, especially as the holiday shopping season sneaks ever so much closer by the day!
Up Next - How to same some money on parking in downtown Toms River: